Multiple Choice Questions on Rs 7000 is divided unequally in two parts and invested in scheme A which offer 10 p a compound inter........... for IBPS (PO/SO) Preparation

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Multiple Choice Questions

Rs 7000 is divided unequally in two parts and invested in scheme A which offer 10 p a compound inter...........

Quantitative Aptitude(IBPS PO) Compound Interest
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    Rs. 7000 is divided unequally in two parts and invested in scheme A, which offer 10% p.a. compound interest which compounded annually and in scheme B, which offer 15% p.a. simple interest for 2 years and 3 years respectively. If the interest earned from scheme A is 84% of that earned from scheme B. Find the sum invested in scheme A.
    Rs. 4200 
    Incorrect Answer

    Rs. 2700

    Incorrect Answer

     Rs. 3000 

    Incorrect Answer

    Rs. 4000

    Incorrect Answer

    Rs. 4500

    Correct Answer
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    Explanation:
    Amount invested in scheme A be Rs.X and amount invested in scheme B be Rs.(7000-X)
    Interest earned from scheme A = X × [10 + 10 + (10 × 10)/100]% = X × (21/100)
    Return from Scheme B = (7000 - X) × (3 × 15/100) = (7000 - X) × 45/100
    ATQ
    X × (21/100) = [(7000 - X) × 45/100] ×(84/100)
    ⇒ X=(7000 - X) × 1.8
    ⇒ 2.8X = 7000 × 1.8
    ⇒ X= 7000 × (18/28) = 4500
    Hence, answer is option 5.

    By: Munesh Kumari
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