Caselets

Q: What is the value of X?

Correct Answer: Option B (Rs. 10,000). SI from A = X * 0.12 * 3 = 0.36X. CI from B = (X + 4000) * [(1 + 10/100)^2 - 1] = (X + 4000) * [1.21 - 1] = (X + 4000) * 0.21 = 0.21X + 840. Total Interest = 0.36X + 0.21X + 840 = 6540. => 0.57X = 5700. => X = 5700 / 0.57 = 10,000.

Q: What is the amount received from Scheme B at the end of 2 years?

Correct Answer: Option A (Rs. 16,940). Investment in B = X + 4000 = 10000 + 4000 = 14000. Amount = P(1 + r/100)^t = 14000 * (1.1)^2 = 14000 * 1.21 = Rs. 16,940.

Q: If Rs. X was invested in Scheme C for 1 year, what would be the interest earned?

Correct Answer: Option B (Rs. 2,100). Scheme C: 20% p.a. compounded half-yearly. Rate per half-year = 10%. Time = 1 year = 2 half-years. Principal = X = 10000. Amount = 10000 * (1.1)^2 = 12100. Interest = 12100 - 10000 = Rs. 2,100.

Q: What is the ratio of the interest earned from Scheme A to the interest earned from Scheme B?

Correct Answer: Option C (60:49). Interest from A = 0.36 * 10000 = 3600. Interest from B = 0.21 * 14000 = 2940. Ratio = 3600 : 2940. Dividing both by 60 gives 60 : 49.

Q: If the interest rate for Scheme A was increased to 15% p.

Correct Answer: Option B (Rs. 7,440). New SI from A = 10000 * 0.15 * 3 = 4500. CI from B remains the same = 2940. New total interest = 4500 + 2940 = Rs. 7,440.

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Caselet Context & PassageSet 6: Simple Interest & Compound Interest

A person invests Rs. X in Scheme A, which offers Simple Interest at 12% p.a. for 3 years. He invests Rs. (X + 4000) in Scheme B, which offers Compound Interest at 10% p.a. compounded annually for 2 years. The total interest received from both Scheme A and Scheme B together at the end of their respective tenures is Rs. 6,540. Scheme C offers Compound Interest at 20% p.a. compounded half-yearly.

Q51

What is the value of X?

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Q52

What is the amount received from Scheme B at the end of 2 years?

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Q53

If Rs. X was invested in Scheme C for 1 year, what would be the interest earned?

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Q54

What is the ratio of the interest earned from Scheme A to the interest earned from Scheme B?

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Q55

If the interest rate for Scheme A was increased to 15% p.

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Caselets

What is the value of X?

Community Discussion & Shortcut Formulas

What is the amount received from Scheme B at the end of 2 years?

Community Discussion & Shortcut Formulas

If Rs. X was invested in Scheme C for 1 year, what would be the interest earned?

Community Discussion & Shortcut Formulas

What is the ratio of the interest earned from Scheme A to the interest earned from Scheme B?

Community Discussion & Shortcut Formulas

If the interest rate for Scheme A was increased to 15% p.

Community Discussion & Shortcut Formulas