Question Paper from: IBPS Clerk Prelims 2017

Two different amounts are invested in two schemes. In scheme A, amount X is invested at 8 % per annum and in scheme B amount (X+1400) is invested at 12% per annum. After 2 years difference between both interests is 880, then find the value of X?

7200

5500

6800

7300

None of these

Solution:

Chapter Name: Partnership

In scheme A Interest = $\frac{X \times 8 \times 2}{100}$

In scheme B Interest

$\frac{( X + 1400 ) \times 12 \times 2}{100}$

ATQ,

$\frac{( X + 1400 ) \times 12 \times 2}{100}$ - $\frac{X \times 8 \times 2}{100}$ = 880

X = 6800

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