New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Register

    Question

    P and Q invested certain amount of money in two SIP's A

    and B. SIP A offers simple interest at rate of 12.5% for 4 years and SIP B offers compound interest at rate of 20% for 2 years. Ratio between the total amount invested by P and Q is 3 : 4. P invested 25% of his amount in SIP A and rest in SIP B. Q invested 80% of his money in SIP A and rest in B. If P invested total Rs._________, then the difference  between the total interest earned by P and Q from both SIP's is Rs._____________. Which of the following options can fill the blanks. I. Rs. 12000 and Rs. 2348 II.Rs. 15000 and Rs. 2935 III.Rs. 18000 and Rs. 3522 IV.Rs. 24000 and Rs. 4696 V. None of these
    A Only V Correct Answer Incorrect Answer
    B Only I, II and IV Correct Answer Incorrect Answer
    C Only I and III Correct Answer Incorrect Answer
    D Only II, III and IV Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ, Total Amount of P = Rs.'x' Total Amount of Q = Rs.4x/3 Interest received by P = x × {0.25 × 0.125 × 4 + 0.75 × (1.22 - 1)} = x × (0.125 + 0.33) = Rs.0.455x Interest received by Q = 4x/3 × (0.8 × 0.125 × 4 + 0.2 × (1.22 - 1)} = 4x/3 × (0.4 + 0.088) = 4x/3 × 0.488 = Rs.1.952x/3 Difference = 1.952x/3 - 0.455x = Rs.0.587x/3 Option I,  x = Rs.12000  Difference = 0.587/3 × 12000 = Rs.2348 Option I is correct Option II,  x = Rs.15000 Difference = 0.587/3 × 15000 = Rs.2935 Option II is correct Option III,  x = Rs.18000 Difference = 0.587/3 × 18000 = Rs.3522 Option III is correct. Option IV,  x = Rs.24000 Difference = 0.587/3 × 24000 = Rs.4696  Option IV is correct Hence, All of these are correct

    Practice Next