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Rithika had Rs 8000. She invested some of it in savings scheme P and the rest ofthe money in savings scheme Q. She invested for 3 years in savings scheme P and for2 years in savings scheme Q. savings scheme P offers SI at a rate of 20% pa whilesavings scheme Q compounded annually at the rate of 30% pa. The interest receivedfrom savings scheme P is 930 more than the interest received from savings scheme Q.If Rs 1500 is debited from the invested amount of savings scheme P then find thedifference between the amount invested by Rithika in savings scheme P & savingsscheme Q.

Correct Answer: Rs 500
Amount invested in savings scheme P= Rs X

Amount invested in savings scheme Q= Rs (8000-X)

Compounding 30 % for 2 years , rate

30+30+ (30*30)/100= 69 %

60 % of X-69 % of (8000-X)=930

X= 5000

In savings savings scheme Q = 8000-5000=3000

5000 - 1500 = 3500

Difference =3500-3000=Rs 500

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