A certain sum is invested for 2 years in scheme M at 20% p.a. compound interest (compounded annually), Same sum is also invested for the same period in scheme N at k% p.a. simple interest. The interest earned from scheme M is twice of that earned from scheme N. What is the value of k?

A certain sum is invested for 2 years in scheme M at 20% p.a. compound interest (compounded annually), Same sum is also invested for the same period in scheme N at k% p.a. simple interest. The interest earned from scheme M is twice of that earned from scheme N. What is the value of k? Correct Answer 11

Interest earned in scheme M =   

P1 + 201002  - 1  = 11P25

Interest earned in scheme N =  

P x k x 2100 = Pk50

 

Now, from the given data,

 

11P25 = 2 x Pk50

k = 11

Bissoy MCQ

Related Questions

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.
Shashi had a certain amount of money. He invested $$\frac{2}{3}$$ of the total money in scheme A for 6 years and rest of the money he invested in scheme B for 2 years. Scheme A offers simple interest at a rate of 12% p.a. and scheme B offers compound interest ( compound annually) at a rate of 10% p.a. If the total interest obtained from both the schemes is Rs. 2750. What was the total amount invested by him in scheme A and scheme B together ? (Approximate value)
The sum invested in scheme B is thrice the sum invested in scheme A. The investment in scheme A is made for 4 years at 8% p.a. simple interest and in scheme B for 2 years at 13% p.a. simple interest. The total interest earned from both the schemes is Rs. 1320. How much amount was invested in scheme A?
Shawn invested one half of his savings in a bond that paid simple interest for 2 years and received Rs.550 as interest. He invested the remaining in a bond that paid compound interest, interest being compounded annually, for the same 2 years at the same rate of interest and received Rs.605 as interest. What was the value of his total savings before investing in thesetwo bonds?
What is the compound interest earned at the end of 3 years? I. Simple interest earned on that amount at the same rate and for the same period is Rs. 4500. II.The rate of interest is 10 p.c.p.a. III.Compound interest for 3 years is more than the simple interest for that period by Rs.465.
A retirement benefit of $12,000 is to be paid every 6 months for 25 years at interest rate of 7% compounded semi-annually. Find (a) the present value to fund the end-of-period retirement benefit. (b) the end-of-period semi-annual payment needed to accumulate the value in part (a) assuming regular investments for 30 years in an account yielding 8% compounded semi-annually
A sum of money invested for a certain number of years at 8% p.a. simple interest grows to Rs.180. The same sum of money invested for the same number of years at 4% p.a. simple interest grows to Rs.120 only. For how many years was the sum invested?
What is the rate of interest p.c.p.a.? I. An amount doubles itself in 5 years on simple interest. II. Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs. 400. III. Simple interest earned per annum is Rs. 2000
Two equal sum are invested in two different schemes. One scheme gives simple interest and the other gives compound interest (annual compounding).The sum of interest obtained after 2 years from both the schemes is Rs 3717. If both scheme have 13% per annum interest rate, then what is the first year interest (in Rs) for simple interest scheme?
A sum of Rs 5000 becomes Rs 8000 in 3 years, when invested in a scheme of simple interest. If the same sum is invested in a scheme of compound interest with same yearly interest rate (compounding of interest is yearly), then what will be the amount (in Rs) after 3 years?