Interest
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Q. A man invests certain amount in Scheme A on Simple Interest for 2 years at certain rate of interest. He invests Rs. 35000 more on Simple Interest for 5 years at twice the rate of interest in Scheme B. The interest received from Scheme B is 10 times of interest from Scheme A. Find the amount that he invests in Scheme B.

  • (A). 65000
  • (B). 70000
  • (C). 35000
  • (D). 40000
Option (B) is Correct

Let the amount invested in scheme A be Rs. $$x$$
Amount invested in scheme B = Rs. $$(x + 35000)$$
Let the rate of interest be R%
According to data provided in the question, we get:
$$10 xx x xx R% xx 2 = (x + 35000) × 2R% × 5$$
⇒ $$2x = x + 35000$$
⇒ $$x = 35000$$
Amount invested in scheme B = Rs. 35000 + 35000 = Rs. 70000
Hence, option B is correct.

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Q. A person makes a fixed deposit of Rs. 20000 in Bank of India for 3 years. If the rate of interest be 13% SI per annum charged half yearly. What amount will he get after 42 months?

  • (A). 29100
  • (B). 28100
  • (C). 27100
  • (D). 26100
Option (A) is Correct

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Q. An amount becomes 8028 in 3 years at a fixed percentage interest rate and 12042 in 6 years, when the interest is compounded annually. What is the actual amount?

  • (A). Rs.5352
  • (B). Rs.5235
  • (C). Rs.5253
  • (D). Rs.5325
Option (A) is Correct

Given,
Fixed percentage interest rate,
Amount becomes 8028 in 3 years,
$$12042 = P(1+r/100)^6 …(i)$$
$$8028 = P(1+r/100)^3$$
$$8028^2 = P^2(1+r/100)^6 …(ii)$$
Dividing (ii) by (i), we get
$$P = (8028xx8028)/12042 = 5352$$