What is the ratio of the interest rates of Riya and Diya from their respective schemes A and B ........

Data Interpretation ( SBI PO) Case Studies

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Directions: Read the following information and answer the questions carefully:

Schemes Time Rate

A 30 years x 2 – 3x – 10 = 0

B y 2 – y – 6 = 0 20%

C 40 years

Information:

. Riya and Diya are two friends. They invested their sum in schemes A and B respectively. Diya invested Rs. 15000. Sum invested and profit earned by Riya is same.

. Riya also invested some money in scheme C at Simple Interest. Interest earned by her is same as profit earned by her from scheme A

. Rate in scheme C is greater than rate in scheme A.

Condition for choosing interest type:

. If time > rate, then Simple Interest should be considered in any scheme.

. If time < rate, then Compound Interest should be considered.

Note: .

Some values are missing. You have to calculate the according to the questions.

. Take positive values of the equations.

What is the ratio of the interest rates of Riya and Diya from their respective schemes A and B?

This questions was previously asked in

SBI PO Prelims (02 Jan, 2022)

View All SBIPO Previous Year Papers

11 : 55

12 : 27

13 : 52

16 : 112

None of the above

Explanation:

- First, let's solve for the rate of scheme A using the equation: \(x^2 - 3x - 10 = 0\).

- Factorizing gives us: \((x - 5)(x + 2) = 0\).

- The positive value of x is 5, so the rate for scheme A is 5%.

- Now, solve for the rate of scheme B using the equation: \(y^2 - y - 6 = 0\).

- Factorizing yields: \((y - 3)(y + 2) = 0\).

- The positive value of y is 3, so the rate for scheme B is 3%.

- Since the rate of scheme B is mentioned as 20%, we use this instead.

- Riya's interest in scheme C must be calculated at a rate greater than 5% (the rate of scheme A). However, we need only the interest rate ratio between schemes A and B at this point.

- Comparing the rates: The ratio of rates (Riya from scheme A to Diya from scheme B) is 5% to 20%, or 5:20, which reduces to 1:4. However, given the options and the understanding of scheme conditions, the actual comparison fits 13:52.

- Therefore, the correct answer is Option 3: 13:52.