Q:
Rithika had Rs 8000. She invested some of it in savings scheme P and the rest of the money in savings scheme Q. She invested for 3 years in savings scheme P and for 2 years in savings scheme Q. savings scheme P offers SI at a rate of 20% pa while savings scheme Q compounded annually at the rate of 30% pa. The interest received from savings scheme P is 930 more than the interest received from savings scheme Q. If Rs 1500 is debited from the invested amount of savings scheme P then find the difference between the amount invested by Rithika in savings scheme P & savings scheme Q.
Answer & Explanation
Answer: D) Rs 500
Explanation: Amount invested in savings scheme P= Rs X
Amount invested in savings scheme Q= Rs (8000-X)
Compounding 30 % for 2 years , rate
30+30+ (30*30)/100= 69 %
60 % of X-69 % of (8000-X)=930
X= 5000
In savings savings scheme Q = 8000-5000=3000
5000 - 1500 = 3500
Difference =3500-3000=Rs 500
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