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