1.
Study the following table carefully to answer the questions. Rate of Interest per cent per annum Offered by Five Companies on Deposits Different Schemes
Mr. X deposited an amount in Scheme II with Company C for two years. After that he withdrew the amount and reinvested only the principal amount in Scheme IV of Company B for two years. Total amount of simple interest accrued from the two Schemes is Rs.14,800. What was the principal amount?
Write Comment
Comments
By: anil on 05 May 2019 01.39 am
Let the principal amount = $$Rs. 100x$$ Rate of interest in company C under scheme II = 9 % Simple interest = $$frac{P imes R imes T}{100}$$ = $$frac{100x imes 9 imes 2}{100}$$ = Rs. $$18x$$ Rate of interest in company B under scheme IV = 9.5 % Simple interest = $$frac{P imes R imes T}{100}$$ = $$frac{100x imes 9.5 imes 2}{100}$$ = Rs. $$19x$$ $$ herefore$$ Total interest = $$18x + 19x = 14,800$$ => $$x = frac{14,800}{37} = 400$$ $$ herefore$$ Principal amount = $$100 imes 400$$ = $$Rs. 40,000$$
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