Question 28

Anindita invests a total of 1 lakh rupees distributed across three schemes, A, B and C, for a period of two years. These schemes offer an interest rate of 10%, 8% and 12% per annum, respectively, each compounded annually. If the initial investment amount in scheme A is 30000 rupees and the total interest earned from all three schemes during the first year is 10600 rupees, then the total interest earned, in rupees, from all three schemes for the second year is

The amount invested in Scheme A is 30,000. Let the amount invested in scheme B be X, and the amount invested in scheme C be 70000 - X. The interest rates in scheme A, scheme B, and scheme C are 10%, 8%, and 12%, compounded annually.

Now, since in the first year, the amount of simple interest is the same as the amount of compound interest, we will use the formulas of simple interest for the first year for calculations. 

It is given that the total interest earned from all three schemes during the first year is 10600.

=> $$\dfrac{30000\times10\times1}{100}+\dfrac{X\times8\times1}{100}+\dfrac{\left(70000-X\right)\times12\times1}{100}=10600$$

=> $$3000+\dfrac{8X}{100}+8400-\dfrac{12X}{100}=10600$$

=> $$\dfrac{4X}{100}=800$$

=> $$X=20000$$

Thus, the amount invested in scheme B is 20,000, and the amount invested in scheme C is 50,000.

The total amount at the end of 2 years will be = $$30000\left(1.1\right)^2+20000\left(1.08\right)^2+50000\left(1.12\right)^2$$

The total amount at the end of 2 years will be = $$36300+23328+62720=122348$$

Thus, the interest earned in the 2 years will be = $$122348-100000=22348$$

Now, the interest earned in the first year was 10600. Thus, the interest earned in the second year will be equal to the total interest earned over the two years minus the interest earned in the first year.

Thus, the interest earned in the second year will be = $$22348-10600=11748$$ Rupees. 

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