P invests Rs.5000 in Scheme A in Simple interest at 15% per annum for 3 years and Rs.4000 at 20% for 2 years in Compound interest in Scheme B and invests the interest obtained from Scheme A and B in Scheme C at 10% for 4 years in Simple interest. Find the interest obtained from Scheme C.
a) Rs.1604
b) Rs.1650
c) Rs.1635
d) Rs.1680
e) Rs.1662
Sol:
Interest obtained from Scheme A = 5000 * 15 *
3/100 = Rs.2250
Interest obtained from Scheme B = 4000 *
(1+20/100)2 – 4000 = 4000 * (120/100)2 =
Rs.1760
Total investment in Scheme C = 2250+1760 =
Rs.4010
Interest obtained from Scheme C = 4010 * 10 *
4/100 = Rs.1604
