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A trust fund has invested RS 27000 money in two schemes A and B offering compound interest at the rate of 8% and 9% p.a respectively. If the total amount of interest accrued through these two schemes together in two years is RS 4818.30 . What is the amount invested in scheme A ?
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A trust fund has invested RS 27000 money in two schemes A and B offeri...
Calculation of Interest

To calculate the interest accrued in scheme A and B, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)

Where:
A = total amount
P = principal amount (amount invested)
r = annual interest rate
n = number of times the interest is compounded per year
t = time period in years

Let's calculate the interest accrued in scheme A and B separately.

For scheme A:
P = x
r = 8%
n = 1 (interest is compounded annually)
t = 2 years
A = x(1 + 0.08/1)^(1*2)
A = x(1.1664)

For scheme B:
P = 27000 - x (as the total amount invested is RS 27000 and x is the amount invested in scheme A)
r = 9%
n = 1 (interest is compounded annually)
t = 2 years
A = (27000 - x)(1 + 0.09/1)^(1*2)
A = (27000 - x)(1.1881)

Total Interest = RS 4818.30

We know that the total interest accrued through both schemes is RS 4818.30, so we can set up an equation:

A + B = 4818.30

Substituting the values of A and B, we get:

x(1.1664) + (27000 - x)(1.1881) = 4818.30

Simplifying this equation, we get:

1.1664x + 32004.7 - 1.1881x = 4818.30
-0.0217x = -27186.4
x = 1252088.5

Therefore, the amount invested in scheme A is RS 12520.88.
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A trust fund has invested RS 27000 money in two schemes A and B offering compound interest at the rate of 8% and 9% p.a respectively. If the total amount of interest accrued through these two schemes together in two years is RS 4818.30 . What is the amount invested in scheme A ?
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A trust fund has invested RS 27000 money in two schemes A and B offering compound interest at the rate of 8% and 9% p.a respectively. If the total amount of interest accrued through these two schemes together in two years is RS 4818.30 . What is the amount invested in scheme A ? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A trust fund has invested RS 27000 money in two schemes A and B offering compound interest at the rate of 8% and 9% p.a respectively. If the total amount of interest accrued through these two schemes together in two years is RS 4818.30 . What is the amount invested in scheme A ? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A trust fund has invested RS 27000 money in two schemes A and B offering compound interest at the rate of 8% and 9% p.a respectively. If the total amount of interest accrued through these two schemes together in two years is RS 4818.30 . What is the amount invested in scheme A ?.
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