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 Elementary Math Fractions, Percentages, Word Problems, Equations, Inequations, Factorization, Expansion

 July 3rd, 2018, 02:28 AM #1 Senior Member   Joined: Aug 2014 From: India Posts: 458 Thanks: 1 How are this direct steps written? A sum of money was invested for 14 years in Scheme A, which offers simple interest 8% p.a. The amount received from Scheme A was then invested for 2 years in Scheme B, which offers compound interest (with annual compounding) at a rate of 10% p.a. If the interest received from Scheme B was Rs 6678, what was the sum invested in Scheme A? Solution: 100 + 112 = 212 6678 * 100/21 * 100/212 = 15000 Last edited by skipjack; July 3rd, 2018 at 11:01 PM. July 3rd, 2018, 04:12 AM #2 Math Team   Joined: Jan 2015 From: Alabama Posts: 3,264 Thanks: 902 Take the original amount to be "S". Then at 8% simple interest, in 14 years it will have drawn (14)(0.08 )(S)= 1.12S in interest and the total amount, including the original amount, is 1.12S+ S= 2.12S. That is now invested at compound interest of 10%, compounded annually, for 2 years. Since that is only 2 years, it is simpler to calculate the amount after each year rather than use a formula. The interest for the first year is (0.10)(2.12S)= 0.212S. The total amount is, 0.212S+ 2.12S= 2.332S. The interest for the second year is (0.10)(2.332S)= 0.2332S so the total interest, for the two years, is 0.212S+ 0.2332S= 0.4452S. We are told that the interest was 6678. 0.4452S= 6678 so S= 6678/0.4452= 15,000. July 3rd, 2018, 05:01 AM   #3
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Quote:
 Originally Posted by Ganesh Ujwal A sum of money was invested for 14 years in Scheme A, at simple interest 8% p.a. The amount received from Scheme A was then invested for 2 years in Scheme B, which offers compound interest (with annual compounding) at a rate of 10% p.a. If the interest received from Scheme B was Rs 6678, what was the sum invested in Scheme A?
Please show YOUR solution (assume no solution was given).

If you are unable to solve, then nothing will be gained through
explaining how the given "shortcut solution" was arrived at.

Last edited by skipjack; July 3rd, 2018 at 11:07 PM. Tags direct, steps, written Thread Tools Show Printable Version Email this Page Display Modes Linear Mode Switch to Hybrid Mode Switch to Threaded Mode Similar Threads Thread Thread Starter Forum Replies Last Post Ganesh Ujwal Elementary Math 1 July 1st, 2018 09:45 PM Ganesh Ujwal Elementary Math 10 June 18th, 2018 10:45 PM Ganesh Ujwal Geometry 6 April 9th, 2018 08:08 AM yuceelly Trigonometry 3 December 19th, 2015 10:55 AM mathmajorintrouble Abstract Algebra 11 May 4th, 2009 11:41 AM

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