New 55% Off on All Courses - Enroll Now! Click Here

    Question

    Aman invested two equal amounts in two different

    projects. In the first project, the amount is invested at 5% p.a. on SI for T years and the SI received is ₹2000, while in the second project, the amount is invested at 10% p.a. For 2 years at CI and the compound interest received is ₹1050, than what will be the value of T?
    A 2 yrs Correct Answer Incorrect Answer
    B 4 yrs Correct Answer Incorrect Answer
    C 8 yrs Correct Answer Incorrect Answer
    D 5 yrs Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, we can say that Let the CI for 2 years at 10% p.a will be =  10 + 10 + ((10 x 10) /100) = 21% Then, the 21% value is given as = 1050 Therefore, 100% value will be = (1050/21) x 100 = 5000 Now the value for T will be =  (S.I x 100)/(P x R) = (2000 x 100)/(5000 x 5)  8 years Hence, the value for T is = 8 years

    Practice Next

    Relevant for Exams: