Priya invests equal sums in two schemes. Scheme A gives 10% per annum compounded annually; Scheme B gives 10% per annum simple interest. After 2 years, Scheme A gives Rs 100 more interest than Scheme B. Find the sum invested in each scheme.

Question

Accepted Answer

10000. Difference for 2 years = P (R/100 )^2 = P(0.1)^2 = 0.01P = 100, so P = Rs 10000.

Priya invests equal sums in two schemes. Scheme A gives 10% per annum compounded annually; Scheme B gives 10% per annum simple interest. After 2 years, Scheme A gives Rs 100 more interest than Scheme B.
Find the sum invested in each scheme.

Step-by-Step Solution

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More Class 8 Compound Interest practice

Priya invests equal sums in two schemes. Scheme A gives 10% per annum compounded annually; Scheme B gives 10% per annum simple interest. After 2 years, Scheme A gives Rs 100 more interest than Scheme B.Find the sum invested in each scheme.

Step-by-Step Solution

Master this chapter in 30 minutes a day.

More Class 8 Compound Interest practice

Priya invests equal sums in two schemes. Scheme A gives 10% per annum compounded annually; Scheme B gives 10% per annum simple interest. After 2 years, Scheme A gives Rs 100 more interest than Scheme B.
Find the sum invested in each scheme.