Bissoy.com
Doctors Medicines MCQs Q&A

Mohan invested Rs. 800 in a scheme which is offering 53/4% per annum simple interest. After 2 years he withdrew the money from the scheme and invested the total amount in another scheme which gives an interest rate of R% p.a. simple interest. After 3 more years, he received Rs. 1214.40 as amount then what is the difference between the rates of interest?

Mohan invested Rs. 800 in a scheme which is offering 53/4% per annum simple interest. After 2 years he withdrew the money from the scheme and invested the total amount in another scheme which gives an interest rate of R% p.a. simple interest. After 3 more years, he received Rs. 1214.40 as amount then what is the difference between the rates of interest? Correct Answer 79/12%

The amount received from first investment = 800 + /100 = 800 + 212 = 1012

This amount is being invested in the second scheme for 3 years and the amount received back is Rs. 1214.40

∴ 1214.40 = 1012 + (1012 × R × 3)/100

⇒ 30.36R = 202.4

⇒ R = 20/3%

∴ The required difference = (53/4 – 20/3) = 79/12%

Related Questions

Questions below followed by three quantities. Find the relationship between them. Quantity I: Peter invested Rs. P in a scheme A offering simple interest at 12% per annum for five years. He invested the whole amount he received from scheme A in another scheme B offering simple interest at 5% per annum for 4 years, if the difference between the interests earned from scheme A and B was Rs. 2240. What is the value of P? Quantity II: Mohan deposited Rs. 12000 at simple interest which amounted to Rs. 16800 after 4 years . Had the interest been 5% more, how much amount he would have got? Quantity III: The SI on certain sum of money for 18 months at the rate of 8% per annum exceeds the SI on the same sum at 10% per annum for 12 months by Rs. 200. Then find the sum?
Shivansh invested Rs. 800 in a scheme which is offering 53/4% per annum simple interest. After 2 years he withdrew the money from the scheme and invested the total amount in another scheme which gives an interest rate of R% per annum simple interest. After 3 more years, he received Rs. 1214.40, then what is the difference between the rates of interest?
Given below are three quantities named 1, 2 and 3. Based on the given information, you have to determine the relation among the three quantities. You should use the given data and knowledge of Mathematics to choose between the possible answer. The options represent the relations among three quantities. A. < B. > C. ≤ D. ≥ E. = Quantity 1: Sumit invested Rs. X for 2 years at the rate of R% per annum simple interest. The interest obtained is Rs. 450 less than the interest obtained when the same sum is invested for 2 years at the rate of (R + 9)% per annum simple interest. Find the value of X. Quantity 2: Ankit invested Rs. Y for 2 years at the rate of 10% per annum compounded annually. The interest obtained is 795 less than the compound interest received by him when he invested a sum of Rs. 3000 for 2 years at the rate of 20% per annum compounded annually. Find the value of Y. Quantity 3: Difference of CI and SI obtained on a sum of Rs. Z when invested for 2 years at 10% per annum is Rs. 20. Find the value of Z. 
Suraj invested a total of Rs 16000 in two schemes A and B. Out of the total money he invested some amount in scheme A which offers simple interest at the rate of 6% per annum for 2 years and the other amount in scheme B which offers interest at the rate of 11% per annum for 2 years. At the end of 2 years he found that the interest received from scheme B is Rs 120 more than the interest received from scheme A then find out amount invested in scheme B?
A person has Rs. 30000 and he invested in four schemes. In 1st scheme he invested 10% of the sum at the rate of 20% per annum, while in 2nd scheme he invested 12% of the amount at the rate of 10% per annum, while in 3rd scheme he invested 25% at the rate of 20% per annum, while in 4th scheme he invested remaining amount at the rate of 25% per annum. After 2 years what is the total amount received by the person.
Priya and khushi invested Rs.3000 together. Priya invested her amount at compound interest for ‘x/10’ years at x% rate interest and khushi invested half of her amount at compound interest and remaining half at simple interest at the same rate of interest for the same time period. [It is given that ‘x/10’ is a natural number] What is the value of ‘x’? Statement I: Ratio of investment of priya and khushi is 1 : 2 respectively and total sum received by them together after a particular time at x% rate of interest is Rs. 4280. Statement II: Simple interest received by khushi is Rs. 40 less than compound interest received by her. Statement III: Sum of simple interest and compound interest received by khushi after a certain time at x% rate of interest is Rs. 2500 Which of the above statement is redundant to find the answer of the given question?
Person Rate of interest  Time Principle Amount Mohan 10%  -  -  - Sohan 6%  4 years  - Rs. 4464 Rohan  -  6 years Rs. 4000  - Kevin 5%  - Rs. 4500  - Pritam  -  5 years Rs. 3800  - Himesh 12%  - Rs. 4800  -   Questions below followed by two quantities. Find the relation between them. Quantity I: If the interest received by Sohan and Mohan is in the ratio of 3 : 5 then what was the amount invested by Sohan? Quantity II: If the difference between the interest received by Himesh and Kevin is Rs. 396 and Kevin invested his money for thrice the time period for which Himesh invested his money then find the amount received by Kevin?
Given below are three quantities named A, B and C. Based on the given information, determine the relation among the three quantities. P invested Rs. 10000 more than Q in a business, but at the end of the year, they received profit in the ratio 11 ∶ 10, such that P received Rs. 2100 more than Q. R and S also invested in another business in the ratio 1 ∶ 2, but at the end of the year, they received profit in the ratio 6∶ 7, such that R received Rs. 2400 less than S. Quantity A: If P withdrew Rs. 10000 after 6 months of investment, how much money did he initially invested? Quantity B: If S withdrew Rs. 50000 after 4 months of investment, how much money did he initially invested? Quantity C: How much total profit did all four of them earned at the end of the year?
Rithika had Rs 8000. She invested some of it in savings scheme P and the rest ofthe money in savings scheme Q. She invested for 3 years in savings scheme P and for2 years in savings scheme Q. savings scheme P offers SI at a rate of 20% pa whilesavings scheme Q compounded annually at the rate of 30% pa. The interest receivedfrom savings scheme P is 930 more than the interest received from savings scheme Q.If Rs 1500 is debited from the invested amount of savings scheme P then find thedifference between the amount invested by Rithika in savings scheme P & savingsscheme Q.
Arun invested a total of Rs. 1500 in two different schemes offering simple interest of 6% and 4% respectively. In two years time, the scheme offering higher interest rate gives Rs. 100 more interest than the scheme offering the lower rate. What was the ratio of amount invested at higher interest rate to the other amount?