Multiple choice

Sangram invests certain sum for 2 years in scheme P offering compound interest of 20% per annum. He also invests less than previous by Rs. 1600 in scheme Q for 3 years offering simple interest at 10% per annum. The interest received from scheme P was twice the interest received from scheme Q. what is the sum of money invested by Sangram in scheme Q?

  1. 3400

  2. 4400

  3. 3000

  4. 2000

  5. 6000
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let P's investment be x. CI for 2 years at 20% = x×(1.2²-1) = x×0.44 = 0.44x. Q's investment is x-1600. SI for 3 years at 10% = (x-1600)×0.3. Given: 0.44x = 2×0.3×(x-1600), so 0.44x = 0.6x - 960. Solving: 0.16x = 960, x = 6000. Q's investment = 6000-1600 = 4400. Option B is correct. Common mistake: using wrong CI formula or misinterpreting the relationship.

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