IBPS SO Prelims Exam Model Paper 3

Given:
Total sum = Rs. 6100
In Scheme A, Compound interest
Principal = P
R = 10% per annum for 2 years
In Scheme B, Simple interest
Principal = 6100 - P
R = 10% per annum for 4 years
CI = SI
Concept Used:
S.I =

PRT

100

C.I = P [1+(

R

100

)T - 1]
P = Principal
R = Rate of Interest
T = Time
Calculation:
According to the question, we get
CI = SI
⇒ P [1+(

R

100

)T - 1] =

PRT

100

⇒ P[1+

10

100

2 - 1] =

[(6100−P)4×10]

100

⇒ P ×

21

100

=

[(6100−P)×4×10]

100

⇒ 21P = 6100 × 40 - 40P
⇒ 61P = 6100 × 40
⇒ P = 4000
∴ The amount invested in Scheme A is Rs. 4000.