Abhi invested a certain amount of money in a scheme offering 20 compound interest for two years Mona...........

Quantitative Aptitude ( CCS) Simple Interest

Abhi invested a certain amount of money in a scheme offering 20% compound interest for two years. Mona invested Rs.1000 more than Abhi in another scheme offering 25% simple interest for two years. Find the amount invested by Abhi if the difference in the interest earned by Abhi and Mona is Rs.1310.

Rs.12000

Rs.13500

Rs.14400

Rs.15600

छोटे Courses बड़े Results

Master Simple Interest

Prepare through Micro-courses

Try Now

Explanation:

Let the amount invested by Abhi and Mona be Rs.x and Rs.’x+1000’resp.
Interest earned by Abhi = x*{(1+0.20)^3 – 1}= Rs.0.44x
Interest earned by Mona = (x+1000)*0.25*2 = Rs.0.5x+500
Now, 0.5x+500 – 0.44x = 1310
=> x = Rs.13500

Hence, option 2 is the correct answer.

Report error

Submit Error