Question

Aman invested Rs. (P + 3000) for 3 years at 8% simple interest. Anuj invested an amount of Rs. P for 2 years at 12% compound interest and received the same amount of interest as Aman received. Find the amount that is invested by Anuj.

• A. Rs. 45,000
• B. Rs. 50,000
• C. Rs. 55,000
• D. Rs. 60,000

Answer 1

The Correct Option is B

Calculate the interest Aman receives using the simple interest formula SI = P × R × T / 100. Then use the compound interest formula to find the amount Anuj invested. Solving these equations, we find Anuj invested Rs. 50,000.