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A person invested equal amounts in two scheme 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 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 scheme A and B at the same rat...
C.I - S.I= 192
View all questions of this test
S.I for 1 year = 960
Interest on RS 960 for 1 year is 192
so rate is 
so the principal is 
when interest is increased is 4% then new rate of interest is 24%
So simple interest after two years will be 
and compound interest rate after two years will be 
Compound interest after two years 
So total interest is = 2304+2580.48 = Rs. 4884.48
Most Upvoted Answer
A person invested equal amounts in two scheme A and B at the same rat...
Given:
- Amount invested in Scheme A = Amount invested in Scheme B
- Scheme A offers simple interest
- Scheme B offers compound interest
- Interest received from Scheme A after 2 years = Rs. 1920
- Interest received from Scheme B after 2 years = Rs. 2112
To find:
- Total interest after 2 years in both schemes if the rate of interest is increased by 4%
Solution:
Let's assume the principal amount invested in each scheme is P.
Calculation of interest in Scheme A:
- Simple interest formula: I = P * R * T / 100
- Given that the interest received from Scheme A after 2 years is Rs. 1920, we can write the equation as:
1920 = P * R * 2 / 100
Calculation of interest in Scheme B:
- Compound interest formula: A = P * (1 + R/100)^T
- Given that the interest received from Scheme B after 2 years is Rs. 2112, we can write the equation as:
2112 = P * (1 + R/100)^2
Calculating the values of P, R, and T:
We have two equations and two variables (P and R). We can solve these equations simultaneously to find the values of P and R.
From the first equation, we can express P in terms of R:
P = (1920 * 100) / (2 * R)
Substituting the value of P in the second equation:
2112 = [(1920 * 100) / (2 * R)] * (1 + R/100)^2
Simplifying the equation:
2112 = 96000 / R * (1 + R/100)^2
Taking the reciprocal of both sides of the equation:
1/2112 = R / 96000 * 1 / (1 + R/100)^2
Simplifying further:
96000 / 2112 = (1 + R/100)^2 / R
Taking the square root of both sides of the equation:
√(96000 / 2112) = (1 + R/100) / √R
Simplifying again:
√(96000 / 2112) * √R = 1 + R/100
Multiplying both sides of the equation by √R:
√R * √(96000 / 2112) = √R + R/100
Squaring both sides of the equation:
R * (96000 / 2112) = R^2 + 2R * √R/100 + R^2/10000
Simplifying the equation:
96000 / 2112 = 2R * √R/100 + R^2/10000
Since we need to find the value of R, we can rewrite the equation as a quadratic equation:
R^2/10000 + 2R * √R/100 - 96000 / 2112 = 0
Solving this quadratic equation will give us the value of R.
Calculating the total interest after increasing the rate of interest by 4%:
Once we have the value of R, we can
- Amount invested in Scheme A = Amount invested in Scheme B
- Scheme A offers simple interest
- Scheme B offers compound interest
- Interest received from Scheme A after 2 years = Rs. 1920
- Interest received from Scheme B after 2 years = Rs. 2112
To find:
- Total interest after 2 years in both schemes if the rate of interest is increased by 4%
Solution:
Let's assume the principal amount invested in each scheme is P.
Calculation of interest in Scheme A:
- Simple interest formula: I = P * R * T / 100
- Given that the interest received from Scheme A after 2 years is Rs. 1920, we can write the equation as:
1920 = P * R * 2 / 100
Calculation of interest in Scheme B:
- Compound interest formula: A = P * (1 + R/100)^T
- Given that the interest received from Scheme B after 2 years is Rs. 2112, we can write the equation as:
2112 = P * (1 + R/100)^2
Calculating the values of P, R, and T:
We have two equations and two variables (P and R). We can solve these equations simultaneously to find the values of P and R.
From the first equation, we can express P in terms of R:
P = (1920 * 100) / (2 * R)
Substituting the value of P in the second equation:
2112 = [(1920 * 100) / (2 * R)] * (1 + R/100)^2
Simplifying the equation:
2112 = 96000 / R * (1 + R/100)^2
Taking the reciprocal of both sides of the equation:
1/2112 = R / 96000 * 1 / (1 + R/100)^2
Simplifying further:
96000 / 2112 = (1 + R/100)^2 / R
Taking the square root of both sides of the equation:
√(96000 / 2112) = (1 + R/100) / √R
Simplifying again:
√(96000 / 2112) * √R = 1 + R/100
Multiplying both sides of the equation by √R:
√R * √(96000 / 2112) = √R + R/100
Squaring both sides of the equation:
R * (96000 / 2112) = R^2 + 2R * √R/100 + R^2/10000
Simplifying the equation:
96000 / 2112 = 2R * √R/100 + R^2/10000
Since we need to find the value of R, we can rewrite the equation as a quadratic equation:
R^2/10000 + 2R * √R/100 - 96000 / 2112 = 0
Solving this quadratic equation will give us the value of R.
Calculating the total interest after increasing the rate of interest by 4%:
Once we have the value of R, we can
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A person invested equal amounts in two scheme 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 both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer?
Question Description
A person invested equal amounts in two scheme 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 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 scheme 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 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 scheme 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 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 scheme 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 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 scheme 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 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 scheme 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 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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Here you can find the meaning of A person invested equal amounts in two scheme 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 both schemes ?a)Rs. 4884.48b)Rs. 4888.48c)Rs. 4884.84d)Rs. 4384.48Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
A person invested equal amounts in two scheme 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 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 scheme 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 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 scheme 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 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 scheme 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 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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