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A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?
- a)Rs. 4884.48
- b)Rs. 4888.48
- c)Rs. 4884.84
- d)Rs. 4384.48
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
A person invested equal amounts in two schemes A and B at the same ra...
Simple Interest for 1 year = 1920/2 = Rs. 960
Compound Interest - Simple Interest = 2112 - 1920 = Rs. 912
Interest on Rs. 960 for 1 year = Rs. 912
= Rs. 4800
New rate = 24% per annum
S.I. = (4800×2×24)/100
= Rs. 2304
Compound Interest = 4800[(1+ 24/100)2 - 1)
= 4800[(1.24)2 - 1]4800
= Rs. 2580.48
Total interest = Rs. 4884.48
Most Upvoted Answer
A person invested equal amounts in two schemes A and B at the same ra...
Let's assume that the initial investment in both schemes A and B is 'x' rupees.
Scheme A offers simple interest, so the interest earned after two years can be calculated using the formula:
Simple Interest (A) = (Principal * Rate * Time) / 100
Given that the interest earned from scheme A is Rs. 1920, we can write the equation as:
1920 = (x * R * 2) / 100
Scheme B offers compound interest, so the interest earned after two years can be calculated using the formula:
Compound Interest (B) = Principal * (1 + Rate/100)^Time - Principal
Given that the interest earned from scheme B is Rs. 2112, we can write the equation as:
2112 = x * (1 + R/100)^2 - x
Now, we can solve these two equations simultaneously to find the values of 'x' and 'R'.
Solving equation 1 for 'x', we get:
x = (1920 * 100) / (R * 2)
Substituting this value of 'x' in equation 2, we get:
2112 = [(1920 * 100) / (R * 2)] * (1 + R/100)^2 - [(1920 * 100) / (R * 2)]
Simplifying this equation, we get:
2112 = [(1920 * 100) / (R * 2)] * [(1 + R/100)^2 - 1]
2112 = [(1920 * 100) / (R * 2)] * (1 + 2R/100 + R^2/10000 - 1)
2112 = [(1920 * 100) / (R * 2)] * (2R/100 + R^2/10000)
2112 = [(1920 * 100) / (R * 2)] * [R(2/100) + R^2/10000]
2112 = [(1920 * 100) / (R * 2)] * [2R/100 + R^2/10000]
2112 = [(1920 * 100) / (2R)] * [2R/100 + R^2/10000]
2112 = [(96000) / (2R)] * [2R/100 + R^2/10000]
2112 = 48000/R + 48/R^2
Now, if we increase the rate of interest by 4%, the new rate of interest will be R + 4.
So, the new interest earned from scheme A can be calculated as:
New Simple Interest (A) = (x * (R + 4) * 2) / 100
And the new interest earned from scheme B can be calculated as:
New Compound Interest (B) = x * (1 + (R + 4)/100)^2 - x
To find the total interest after two years from both schemes, we need to calculate the sum of the new interest earned from scheme A and scheme B:
Total Interest = New Simple Interest (A) + New Compound Interest (B)
Now, we can substitute the values and calculate the total interest.
Scheme A offers simple interest, so the interest earned after two years can be calculated using the formula:
Simple Interest (A) = (Principal * Rate * Time) / 100
Given that the interest earned from scheme A is Rs. 1920, we can write the equation as:
1920 = (x * R * 2) / 100
Scheme B offers compound interest, so the interest earned after two years can be calculated using the formula:
Compound Interest (B) = Principal * (1 + Rate/100)^Time - Principal
Given that the interest earned from scheme B is Rs. 2112, we can write the equation as:
2112 = x * (1 + R/100)^2 - x
Now, we can solve these two equations simultaneously to find the values of 'x' and 'R'.
Solving equation 1 for 'x', we get:
x = (1920 * 100) / (R * 2)
Substituting this value of 'x' in equation 2, we get:
2112 = [(1920 * 100) / (R * 2)] * (1 + R/100)^2 - [(1920 * 100) / (R * 2)]
Simplifying this equation, we get:
2112 = [(1920 * 100) / (R * 2)] * [(1 + R/100)^2 - 1]
2112 = [(1920 * 100) / (R * 2)] * (1 + 2R/100 + R^2/10000 - 1)
2112 = [(1920 * 100) / (R * 2)] * (2R/100 + R^2/10000)
2112 = [(1920 * 100) / (R * 2)] * [R(2/100) + R^2/10000]
2112 = [(1920 * 100) / (R * 2)] * [2R/100 + R^2/10000]
2112 = [(1920 * 100) / (2R)] * [2R/100 + R^2/10000]
2112 = [(96000) / (2R)] * [2R/100 + R^2/10000]
2112 = 48000/R + 48/R^2
Now, if we increase the rate of interest by 4%, the new rate of interest will be R + 4.
So, the new interest earned from scheme A can be calculated as:
New Simple Interest (A) = (x * (R + 4) * 2) / 100
And the new interest earned from scheme B can be calculated as:
New Compound Interest (B) = x * (1 + (R + 4)/100)^2 - x
To find the total interest after two years from both schemes, we need to calculate the sum of the new interest earned from scheme A and scheme B:
Total Interest = New Simple Interest (A) + New Compound Interest (B)
Now, we can substitute the values and calculate the total interest.
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A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer?
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A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer?.
A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer?.
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A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer?, a detailed solution for A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice A person invested equal amounts in two schemes A and B at the same rate of interest. Scheme A offers simple interest while scheme B offers compound interest. After two years he got Rs. 1920 from the Scheme A as interest and Rs. 2112 from scheme B. If the rate of interest is increased by 4%, what will be the total interest after two years of both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Railways tests.
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