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Vikram had Rs. 20y with him, out of which he invested 40% in scheme P offering simple interest of 40% p.a. and rest in scheme Q offering a rate of 20% p.a. compound interest, compounded annually. If total interest earned by him from both schemes at the end of 2 years is Rs. 12848, then find the value of 45y/22?
- a)3600
- b)4500
- c)2500
- d)2250
- e)None of these
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Vikram had Rs. 20y with him, out of which he invested 40% in scheme P...
Let's solve the given problem step by step:
Step 1: Calculation of Investment Amount
Vikram had Rs. 20y with him, out of which he invested 40% in scheme P and the rest in scheme Q.
So, the amount invested in scheme P = 40/100 * 20y = 8y
And the amount invested in scheme Q = 20y - 8y = 12y
Step 2: Calculation of Interest from Scheme P
Scheme P offers a simple interest of 40% p.a. for 2 years.
So, the interest earned from scheme P = (8y * 40/100) * 2 = 6.4y
Step 3: Calculation of Interest from Scheme Q
Scheme Q offers a compound interest of 20% p.a. compounded annually for 2 years.
The formula to calculate compound interest is: A = P(1 + r/n)^(nt)
Where,
A = Final amount
P = Principal amount
r = Rate of interest
n = Number of times interest is compounded per year
t = Time period in years
In this case, the principal amount is 12y, rate of interest is 20%, time period is 2 years, and interest is compounded annually (n = 1).
So, the final amount (A) after 2 years = 12y * (1 + 20/100)^(1*2)
= 12y * (1 + 0.2)^2
= 12y * (1.2)^2
= 12y * 1.44
= 17.28y
The interest earned from scheme Q = Final amount - Principal amount
= 17.28y - 12y
= 5.28y
Step 4: Calculation of Total Interest Earned
The total interest earned from both schemes is given as Rs. 12848.
So, 6.4y + 5.28y = 12848
11.68y = 12848
y = 12848/11.68
y = 1100
Step 5: Calculation of 45y/22
Now, we need to find the value of 45y/22.
Substituting the value of y in the equation, we get:
45(1100)/22 = 2250
Therefore, the value of 45y/22 is 2250.
Hence, the correct answer is option D) 2250.
Step 1: Calculation of Investment Amount
Vikram had Rs. 20y with him, out of which he invested 40% in scheme P and the rest in scheme Q.
So, the amount invested in scheme P = 40/100 * 20y = 8y
And the amount invested in scheme Q = 20y - 8y = 12y
Step 2: Calculation of Interest from Scheme P
Scheme P offers a simple interest of 40% p.a. for 2 years.
So, the interest earned from scheme P = (8y * 40/100) * 2 = 6.4y
Step 3: Calculation of Interest from Scheme Q
Scheme Q offers a compound interest of 20% p.a. compounded annually for 2 years.
The formula to calculate compound interest is: A = P(1 + r/n)^(nt)
Where,
A = Final amount
P = Principal amount
r = Rate of interest
n = Number of times interest is compounded per year
t = Time period in years
In this case, the principal amount is 12y, rate of interest is 20%, time period is 2 years, and interest is compounded annually (n = 1).
So, the final amount (A) after 2 years = 12y * (1 + 20/100)^(1*2)
= 12y * (1 + 0.2)^2
= 12y * (1.2)^2
= 12y * 1.44
= 17.28y
The interest earned from scheme Q = Final amount - Principal amount
= 17.28y - 12y
= 5.28y
Step 4: Calculation of Total Interest Earned
The total interest earned from both schemes is given as Rs. 12848.
So, 6.4y + 5.28y = 12848
11.68y = 12848
y = 12848/11.68
y = 1100
Step 5: Calculation of 45y/22
Now, we need to find the value of 45y/22.
Substituting the value of y in the equation, we get:
45(1100)/22 = 2250
Therefore, the value of 45y/22 is 2250.
Hence, the correct answer is option D) 2250.
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Community Answer
Vikram had Rs. 20y with him, out of which he invested 40% in scheme P...
Amount invested in scheme P = 0.40 × 20y = Rs. 8y
Amount invested in scheme Q = 20y – 8y = Rs. 12y
0.40 × 2 × 8y + 0.44 × 12y = 12848
6.4y + 5.28y = 12848
11.68y = 12848
y = 1100
So, 45y/22 = (45 × 1100)/22 = 2250.
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Vikram had Rs. 20y with him, out of which he invested 40% in scheme P offering simple interest of 40% p.a. and rest in scheme Q offering a rate of 20% p.a. compound interest, compounded annually. If total interest earned by him from both schemes at the end of 2 years is Rs. 12848, then find the value of 45y/22?a)3600b)4500c)2500d)2250e)None of theseCorrect answer is option 'D'. Can you explain this answer?
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Vikram had Rs. 20y with him, out of which he invested 40% in scheme P offering simple interest of 40% p.a. and rest in scheme Q offering a rate of 20% p.a. compound interest, compounded annually. If total interest earned by him from both schemes at the end of 2 years is Rs. 12848, then find the value of 45y/22?a)3600b)4500c)2500d)2250e)None of theseCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Vikram had Rs. 20y with him, out of which he invested 40% in scheme P offering simple interest of 40% p.a. and rest in scheme Q offering a rate of 20% p.a. compound interest, compounded annually. If total interest earned by him from both schemes at the end of 2 years is Rs. 12848, then find the value of 45y/22?a)3600b)4500c)2500d)2250e)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Vikram had Rs. 20y with him, out of which he invested 40% in scheme P offering simple interest of 40% p.a. and rest in scheme Q offering a rate of 20% p.a. compound interest, compounded annually. If total interest earned by him from both schemes at the end of 2 years is Rs. 12848, then find the value of 45y/22?a)3600b)4500c)2500d)2250e)None of theseCorrect answer is option 'D'. Can you explain this answer?.
Vikram had Rs. 20y with him, out of which he invested 40% in scheme P offering simple interest of 40% p.a. and rest in scheme Q offering a rate of 20% p.a. compound interest, compounded annually. If total interest earned by him from both schemes at the end of 2 years is Rs. 12848, then find the value of 45y/22?a)3600b)4500c)2500d)2250e)None of theseCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Vikram had Rs. 20y with him, out of which he invested 40% in scheme P offering simple interest of 40% p.a. and rest in scheme Q offering a rate of 20% p.a. compound interest, compounded annually. If total interest earned by him from both schemes at the end of 2 years is Rs. 12848, then find the value of 45y/22?a)3600b)4500c)2500d)2250e)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Vikram had Rs. 20y with him, out of which he invested 40% in scheme P offering simple interest of 40% p.a. and rest in scheme Q offering a rate of 20% p.a. compound interest, compounded annually. If total interest earned by him from both schemes at the end of 2 years is Rs. 12848, then find the value of 45y/22?a)3600b)4500c)2500d)2250e)None of theseCorrect answer is option 'D'. Can you explain this answer?.
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