Multiple choice

P invested certain amount in two different schemes A and B . Scheme A offer simple interest at the rate of 12% per annum and scheme B offer compound interest at the rate of 10% percent per annum. Interest accured on the amount invested in scheme A in 2 years was Rs. 4800 and the total amount invested was Rs 51823 what was the interest accured on the amount invested in scheme B for 2 years?

  1. 6682.83

  2. 5482.83

  3. 3622.83

  4. 986.83

  5. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

For Scheme A (12% SI for 2 years = 4800): Principal = 4800÷(12×2) = 20000. Total investment = 51823, so Scheme B investment = 51823-20000 = 31823. For Scheme B (10% CI for 2 years): Amount = 31823×(1.1)² = 31823×1.21 = 38505.83. Interest = 38505.83-31823 = 6682.83. Option A is correct.

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