Test Index

RBI Grade B Officers 22 Nov 2015 Paper

© examsnet.com

Question : 5 of 200

Marks: +1, -0

A certain amount is invested in scheme A for 6 years which offers simple interest at the rate of x % per annum. The same amount is invested in scheme B for 2 years which offers compound interest compounded annually at the rate of 10% per annum. Interest earned from scheme A is twice to that earned from scheme B. If the rate of interest of scheme A had been (x + 2)% per annum, the difference between the interests after corresponding periods would have been Rs. 3960. What is the amount invested in each scheme?

Rs. 35000
Rs. 32000
Rs. 33000
Rs. 33500
None of these

Solution:

(3) Let the amount invested ineach scheme be Rs. y.

According to the question,Simple interest

= 2 × Compound interest

\frac{y \times x \times 6}{100} = 2y \left[ \left(1+\frac{10}{100}\right)^2 -1 \right]

\Rightarrow \frac{3x}{100} = \frac{11}{10^2}

\Rightarrow \frac{3x}{100} = \frac{21}{100}

\Rightarrow x = \frac{21}{3} = 70\%

per annumAgain,

Rate of S.I. = 9%

\therefore \frac{y \times 9 \times 6}{100} - \frac{21 \times 2y}{100} = 3960

\Rightarrow \frac{54y}{100} - \frac{42y}{100} = 3960

\Rightarrow 12y = 3960 \times 100

\Rightarrow y = \frac{3960 \times 100}{12} = \text{Rs. } 33000

© examsnet.com

Go to Question:

Prev Question

Next Question