LIC AAO 06 Mar 2016 Paper

Question : 59 of 160

Marks: +1, -0

A certain sum is invested for 2 years in scheme A at 20% p.a. compound interest compounded annually. Same sum is also Invested for the same period in scheme B at x% p.a. at a simple interest. The interest earned from scheme A is twice of that earned from scheme B. What is the value of * ?

Validate

Solution:

Let the principal be Rs. P.
∴ C.I. = P

[(1+R/{100})^2-1]

= P

[(1+{20}/{100})^2-1]

= P

[(1+1/5)^2-1]

= P

[(6/5)^2-1]

= P

({36}/{25}-1)

= Rs.

{11P}/{25}

S.I. =

{\Principle × \Time × \Rate}/{100}

{P×2×x}/{100}

= Rs.

{2Px}/{100}

According to the question

{11P}/{25}

= 2 ×

{2Px}/{100}

⇒

{11}/{25}

{4x}/{100}

⇒ 4x =

{1100}/{25}

= 44
⇒ x =

{44}/4

= 11

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