Question

Vishnu has some amount of money and he invested the money in two schemes X and Y in the ratio of 2 : 5 for 2 years, scheme X offers 30% pa compound interest and scheme Y offers 15% pa Simple interest. The difference between the interest earned from both the schemes is Rs. 10800. How much was invested in scheme Y?
1. 4,00,000
2. 4,20,000
3. 3,90,000
4. 4,80,000
5. 4,50,000

Answer 1

Correct Answer - Option 5 : 4,50,000

Given:

Schemes X and Y invest in the ratio of 2 : 5 for 2 years.

X offers 30% pa compound interest and scheme Y offers 15% pa Simple interest.

Formula used:

Compound Interest

Amount = Principal(1 + rate/100)^Time

Simple interest = Principal × Rate × Time/100

Calculation:

Let the amount invested in scheme X is 2 × 50 = 100

Let the amount invested in scheme Y is 5 × 50 = 250

Interest from scheme X = 100 × (1 + 30/100)²

⇒ 169 – 100

⇒ 69

Interest from scheme Y = 250 × 15% × 2

⇒ 75

Difference between the interests

⇒ 75 – 69

⇒ 6

Investment in scheme Y = 250/6 × 10800

⇒ Rs. 4,50,000

∴ Rs. 4,50,000 was invested in scheme Y.