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    An equal sum is invested for six years in scheme A offering simple interest at X% p.a. and in Scheme B for two years offering compound interest at 10% p.a. (compounded annually). The interest earned from Scheme A is double the interest earned from Scheme B. Had the rate of interest been X+2% simple interest p.a. in scheme A, the difference in the interests earned from both the schemes would have been INR 3960/-, what was the sum invested in each of the scheme

  • INR 10000/-
  • INR 20000/-
  • INR 12000/-
  • INR 18000/-
  • INR 15000/-
  • Explanation:

    Let the sum invested in each of the scheme = p

    According to question,

    p×6×x/100 = 2p [(1+10/100)2-1]

    3X/100=21/100

    X = 7%

    Now, new rate = X +2

    = 7+2

    =9%

    Again, according to question,

    P×9×6/100-P[(1+10/100)2-1]=3960

    54p/100-21/100P = 3960

    33p = 396000

    P = INR 12000/-