New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    P invested a certain sum in SIP 'A', which earns compound

    interest at a rate of 25% per annum for a period of 3 years, resulting in an interest amount of Rs. X. He then invested Rs. (2X - 50) at a compound interest rate of 20% per annum, compounded half-yearly for 1 year, and this investment grew to Rs. 3630. Determine the initial amount P invested in SIP 'A'.
    A 1400 Correct Answer Incorrect Answer
    B 1000 Correct Answer Incorrect Answer
    C 1600 Correct Answer Incorrect Answer
    D 1200 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,


    (2X-50) * (1 + (20/2)/100)² = 3630

    (2X-50) * (110/100)² = 3630

    2X - 50 = 3000

    X = 3050/2 = Rs.1525

    Let the amount invested in SIP A be Rs.'y'.

    y * (1 + 25/100)³ – y = 1525

    y * (125/100)³ – y = 1525

    125y – 64y = 1525 * 64

    y = Rs.1600

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