1. Ravi invested Rs.P in a scheme A offering simple interest at 10% p.a. for two years. He invested the whole amount he received from scheme A, in another scheme (B) offering simple interest at 12% p.a. for five years. If the difference between the interests earned from schemes A and B was Rs. 13,00/, what is the value of P ?
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- By: anil on 05 May 2019 01.14 amit is given that the initial amount invested in scheme A is Rs P at 10%per Annum S.I. = $$frac{P x R x T}{100}$$ =$$frac{P imes10 imes2}{100}$$ Now the total amount after 2 years is = 1.2P New Rate of interest = 12% per annum Time = 5 years S.I for next 5 years when new principal amount is 1.2 P = $$frac{1.2P imes12 imes5}{100}$$ = 0.72P total amount after 5 years at 12% per annun = 1.72P Given that 1.72P - 1.2P = 1300 P = 1300/0.52 =Rs 2500
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