Question 46

Rs. 6100 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 give equal interests. How much was invested in Scheme A ?

Solution

Given that , Simple interest = compound interest

so, $$\frac{PTR}{100}=Q[(1+\frac{r}{100})^{t}-1]$$

Let the amount invested in A be x. So , the amount invested in B will be (6100 - x)

$$\frac{(6100-x)4\times10}{100}=x[(1+\frac{10}{100})^{2}-1]$$

On solving , we get x = 4000 .

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