Latest Bank Exam Aptitude Question SOLUTION: Ram invested a certain sum in scheme A, which offers simple interest at the rate of 12% p.a. for 3 years. He also invested Rs. 6,000 in scheme B, which offers compound interest (co

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(#M40156270) BANK EXAM Numerical Ability question SI & CI Keep an EYE

Ram invested a certain sum in scheme A, which offers simple interest at the rate of 12% p.a. for 3 years. He also invested Rs. 6,000 in scheme B, which offers compound interest (compounded annually) at the rate of 10% p.a. for 2 years. If the interest earned from scheme A is 2/7th of the interest from scheme B, what is the sum invested in scheme A?

Asked In Bank Exam Rockybalboa (8 years ago)

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bhupender verma  (8 years ago)

compond interest = 1260
so 1260*2/7 = 360
360 = 9P/25
P = 1000

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pankaj tamuli  (7 years ago)

For Scheme A, SI = P*N*R/100 = P*12*3/100= 9P/25
FOR SCHEME B, AMOUNT=P(1+R/100)^N
= 6000(1+10/100)^2 = 7260
HENCE COMPOUND INTEREST = (7260-6000)=1260
ACCORDING TO THE QUESTION, SI of Scheme A = 2/7 th of CI of Scheme B
9p/25=2/7*1260
p=1000 This is the required Answer.

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arava mounika  (8 years ago)

the answer is nearly 6000(i.e 5700) use simple interest and compound interest to get answer

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