Mathematics for FinancePYQ Dec 22Question 1239 of 512
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Mr. Prakash invested money in two schemes 'A' and 'B' offering compound interest at the rate of 8%\displaystyle 8\% and 9%\displaystyle 9\% p.a. respectively. If the total amount of interest accrued through these two schemes together in two years was 4,816.30\displaystyle 4,816.30 and total amount invested was 27,000\displaystyle 27,000. What was the amount invested in schemes 'A'?

Options

A12,000\displaystyle 12,000
B12,500\displaystyle 12,500
C13,000\displaystyle 13,000
D13,500\displaystyle 13,500
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Correct Answer

✅ Option a — 12,000\displaystyle 12,000

All Options:

  • A12,000\displaystyle 12,000
  • B12,500\displaystyle 12,500
  • C13,000\displaystyle 13,000
  • D13,500\displaystyle 13,500

Detailed Solution & Explanation

**Derivation of Invested Sum in Scheme A** *Note: The question contains a small typo in the total interest accrued, stating it is 4,816.30. In standard CA Foundation problems, this interest is 4,818.30, which leads to an integer solution of 12,000.* Given: - Total investment = Rs. 27,000\displaystyle \text{Rs. }27,000 - Scheme A rate (r1\displaystyle r_1) = 8%\displaystyle 8\% compounded annually - Scheme B rate (r2\displaystyle r_2) = 9%\displaystyle 9\% compounded annually - Time (t\displaystyle t) = 2\displaystyle 2 years - Let the investment in Scheme A be x\displaystyle x. - Then, investment in Scheme B is (27,000−x)\displaystyle (27,000 - x). **Step 1: Write down the interest from each scheme** - Scheme A Interest: CIA=x[(1.08)2−1]=0.1664xCI_A = x \left[(1.08)^2 - 1\right] = 0.1664 x - Scheme B Interest: CIB=(27000−x)[(1.09)2−1]=(27000−x)×0.1881=5078.70−0.1881xCI_B = (27000 - x) \left[(1.09)^2 - 1\right] = (27000 - x) \times 0.1881 = 5078.70 - 0.1881 x **Step 2: Set up the total interest equation** 0.1664x+5078.70−0.1881x=4818.300.1664 x + 5078.70 - 0.1881 x = 4818.30 −0.0217x=4818.30−5078.70-0.0217 x = 4818.30 - 5078.70 −0.0217x=−260.40-0.0217 x = -260.40 x=260.400.0217=Rs. 12,000x = \frac{260.40}{0.0217} = \text{Rs. }12,000 *(Using the database value of 4,816.30 yields x=12,092.17\displaystyle x = 12,092.17, which is closest to Option A/B).* Hence, **Option A** is the correct answer.

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