Wordpandit Question of the day
Rs. 6,100 was partly invested in Scheme A at 10% p.a. compound interest (compounded annually) for 2 years and partly in Scheme B at 10% p.a. simple interest for 4 years. Both the schemes have equal interest payouts. How much was invested in Scheme A?
1. Rs 3820
2. Rs 4800
3. Rs 4000
4. Rs 5250
Answers and Explanations
Answer: (3)
Let P be the sum invested on C.I. and (6100 – P ) be invested in S.I.
According to the question:
0.21P = {(6100 – P)× 10 × 4}/ 100
=>21P = (6100 × 40) – 40P
=>61P = (6100 × 40)=>P = Rs. 4000
Its 3 ie. 4000