Mathematics · Simple and Compound Interest
A invests Rs. (P + 1500) in Scheme A offering 15% p.a. simple interest. After 3 years, he withdraws the entire amount and reinvests it in Scheme B that offers 20% p.a. compound interest (compounded annually) for 2 years. The total amount received after 2 years from Scheme B is Rs. (2P + 3440). Determine which of the following statements is/are definitely correct: I. The interest earned from Scheme A is 2P/5. II. The amount invested in Scheme A is Rs. 5,500. III. The equivalent simple interest rate of Scheme B over 2 years is 40%.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1Only III is true
- 2Only II is true
- 3Only I is true
- 4All are false✓
Correct answer
All are false
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Mathematics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Simple and Compound Interest MCQs →Want more practice questions on Simple and Compound Interest?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Mathematics · Simple and Compound Interest