1. Ronnie invested Rs.P in a scheme A offering simple interest at 12% p.a. for two years. He invested the whole amount he received from scheme A, in another scheme B offering simple interest 15% p.a. for two years. If the difference between the interest earned from schemes A and B was Rs.264/, what is the value of P ?
Write Comment
Comments
By: anil on 05 May 2019 01.35 am
let the initial amount invested be P . So after two years with 12%per annum ,P will amount to = P + 0.24P = 1.24P Now 1.24P is invested again at SI 15% for two years and hence it will give an interest amount of = ( 0.3 x1.24P) = 0.372 P It is given that 0.372 P - 0.24 P =264 So P = 2000
Terms And Service:We do not guarantee the accuracy of available data ..We Provide Information On Public Data.. Please consult an expert before using this data for commercial or personal use