Question
Neha invested Rs. 50,000 in two different schemes,
βCβ and βDβ, for 3 years and 4 years, respectively. Scheme βCβ offers a simple interest rate of 15% per annum, while scheme βDβ provides compound interest (compounded annually) at a rate of 25% per annum. Determine the sum invested in scheme βDβ if the interest from scheme βCβ is Rs. 2,250 more than that from scheme βDβ.Solution
ATQ, Let the sum invested in scheme βDβ be Rs. βyβ. Sum invested in scheme βCβ = Rs. (50000 - y). Simple interest from scheme βCβ = (50000 - y) Γ 15% Γ 3. Compound interest from scheme βDβ = y Γ [{1 + (25/100)}4 - 1]. Setting the interest difference and solving for βyβ gives y = Rs.20,000
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