Rajesh invested Rs. 2500 each in two Schemes A and B for years and 2 years respectively. Scheme A offers 20% p.a. simple interest

February 24, 2024

Rajesh invested Rs. 2500 each in two Schemes A and B for years and 2 years respectively. Scheme A offers 20% p.a. simple interest while scheme ‘B’ offers _____% p.a. compound interest, compounded annually. The difference between the amounts received from the two schemes is Rs. ______The values are given in which of the following options will fill the blanks in the same order in which it is given to make the

Statement true:

I. 6, 12, 2364

II. 8, 15, 3193.75

III. 5, 20, 1800

A. Only I

B. Only I and III

C. All I, II and III

D. Only I and II

E. Only II

Sol:

Amount received from scheme ‘A = (2500 x 20 x

6)/100 +2500 = Rs. 5500

Amount received from scheme ‘B’ = 2500(1

+12/100)2 = Rs. 3136

The required difference =5500 – 3136 = Rs.

2364

Therefore, the statement I is true.

For statement II:

Amount received from scheme ‘A = (2500 x 20 x

8)/100 +2500 = Rs. 6500

Amount received from scheme ‘B’ = 2500(1

+15/100)2 = Rs. 3306.25

The required difference = 6500 – 3306.25 = Rs.

3193.75

Therefore, statement II is true.

For statement III:

Amount received from scheme ‘A = (2500 x 20 x

5)/100 +2500 = Rs. 5000

Amount received from scheme ‘B’ = 2500(1

+20/100)2 = Rs. 3600

The required difference = 5000 – 3600 = Rs.

1400

Therefore, statement III is false.