A person invested two equal amounts in two different schemes. In first scheme, amount is invested at 8% p.a. on SI for T years and SI received is Rs.2000 while in second scheme, amount is invested at…

Question

A person invested two equal amounts in two different schemes. In first scheme, amount is invested at 8% p.a. on SI for T years and SI received is Rs.2000 while in second scheme, amount is invested at 10% p.a. for 2 years at CI and the compound interest received is Rs.1050. Find the value of T.

PYQPulse · Accepted Answer

5 years

PYQPulse · Answer

Explanation: 5 years Let principal in each scheme be 100 Compound interest (in%)= 10 + 10 + 1 = 21% ∴Principal = = ×1050 21 100 Rs.5000 ∴T = 5 8 5000 100 2000 T R P 100 S.I = × × = ⇒ × × years

A person invested two equal amounts in two different schemes. In first scheme, amount is invested at 8% p.a. on SI for T years and SI received is Rs.2000 while in second scheme, amount is invested at 10% p.a. for 2 years at CI and the compound interest received is Rs.1050. Find the value of T.

Answer: D. 5 years

Explanation

A person invested two equal amounts in two different schemes. In first scheme, amount is invested at 8% p.a. on SI for T years and SI received is Rs.2000 while in second scheme, amount is invested at 10% p.a. for 2 years at CI and the compound interest received is Rs.1050. Find the value of T.

Answer: D. 5 years

Explanation