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An amount of Rs. (y-2800) was invested on simple interest at the rate of (R+1)% per annum for 6 years. Interest after 6 years = (y-2800)x(R+1)%x6 Eq.(i) An another amount of Rs. (y+3200) was invested on simple interest at the rate of (R-2)% per annum for 5 years. Interest after 5 years = (y+3200)x(R-2)%x5 Eq.(ii) The interest obtained in both of the cases is the same. So Eq.(i) = Eq.(ii) (y-2800)x(R+1)%x6 = (y+3200)x(R-2)%x5 (i) 14800, 12 (14800-2800)x(12+1)%x6 = (14800+3200)x(12-2)%x5 12000x13%x6 = 18000x10%x5 9360 ≠ 9000 So these are not the correct values. (ii) 15800, 16 (15800-2800)x(16+1)%x6 = (15800+3200)x(16-2)%x5 13000x17%x6 = 19000x14%x5 13260 ≠ 13300 So these are not the correct values. (iii) 14800, 14 (14800-2800)x(14+1)%x6 = (14800+3200)x(14-2)%x5 12000x15%x6 = 18000x12%x5 10800 = 10800 So these are the correct values. (iv) 12800, 18 (12800-2800)x(18+1)%x6 = (12800+3200)x(18-2)%x5 10000x19%x6 = 16000x16%x5 11400 = 12800 So these are not the correct values.
Consider the following statements about Interest Equalisation Scheme:
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