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Line Charts – Line Chart 9

Directions to Solve

Two different finance companies declare fixed annual rate of interest on the amounts invested with them by investors. The rate of interest offered by these companies may differ from year to year depending on the variation in the economy of the country and the banks rate of interest. The annual rate of interest offered by the two Companies P and Q over the years are shown by the line graph provided below.

Annual Rate of Interest Offered by Two Finance Companies Over the Years.

15-3-9-1

1. A sum of Rs. 4.75 lakhs was invested in Company Q in 1999 for one year. How much more interest would have been earned if the sum was invested in Company P?
A. Rs. 19,000
B. Rs. 14,250
C. Rs. 11,750
D. Rs. 9500

Answer: Option D

Explanation:

Difference = Rs. [(10% of 4.75) – (8% of 4.75)] lakhs
= Rs. (2% of 4.75) lakhs
= Rs. 0.095 lakhs
= Rs. 9500.

2. If two different amounts in the ratio 8:9 are invested in Companies P and Q respectively in 2002, then the amounts received after one year as interests from Companies P and Q are respectively in the ratio?
A. 2:3
B. 3:4
C. 6:7
D. 4:3

Answer: Option D

Explanation:

Let the amounts invested in 2002 in Companies P and Q be Rs. 8x and Rs. 9x respectively.

Then, interest received after one year from Company P = Rs. (6% of 8x)
= Rs. 48/100 x.
and interest received after one year from Company Q = Rs. (4% of 9x)
= Rs. 36/100 x.
Therefore Required ratio =
( 48/100 x )
= 4/3 .
( 36/100 x )

3. In 2000, a part of Rs. 30 lakhs was invested in Company P and the rest was invested in Company Q for one year. The total interest received was Rs. 2.43 lakhs. What was the amount invested in Company P?
A. Rs. 9 lakhs
B. Rs. 11 lakhs
C. Rs. 12 lakhs
D. Rs. 18 lakhs

Answer: Option D

Explanation:

Let Rs. x lakhs be invested in Company P in 2000, the amount invested in Company Q in 2000 = Rs. (30 – x) lakhs.

Total interest received from the two Companies after 1 year

= Rs. [(7.5% of x) + {9% of (30 – x)}] lakhs

    = Rs. [ 2.7 – ( 1.5x/100 ) ] lakhs.
Therefore [ 2.7 – ( 1.5x/100 ) ] = 2.43     =>     x = 18.

4. An investor invested a sum of Rs. 12 lakhs in Company P in 1998. The total amount received after one year was re-invested in the same Company for one more year. The total appreciation received by the investor on his investment was?
A. Rs. 2,96,200
B. Rs. 2,42,200
C. Rs. 2,25,600
D. Rs. 2,16,000

Answer: Option C

Explanation:

Amount received from Company P after one year (i.e., in 199) on investing Rs. 12 lakhs in it

= Rs. [12 + (8% of 12)] lakhs

= Rs. 12.96 lakhs.

Amount received from Company P after one year on investing Rs. 12.96 lakhs in the year 1999

= Rs. [12.96 + (10% of 12.96)] lakhs

= Rs. 14.256.

Appreciation received on investment during the period of two years

= Rs. (14.256 – 12) lakhs

= Rs. 2.256 lakhs

= Rs. 2,25,600.


5. An investor invested Rs. 5 lakhs in Company Q in 1996. After one year, the entire amount along with the interest was transferred as investment to Company P in 1997 for one year. What amount will be received from Company P, by the investor?
A. Rs. 5,94,550
B. Rs. 5,80,425
C. Rs. 5,77,800
D. Rs. 5,77,500

Answer: Option B

Explanation:

Amount received from Company Q after one year on investment of Rs. 5 lakhs in the year 1996

= Rs. [5 + (6.5% of 5)] lakhs

= Rs. 5.325 lakhs.

Amount received from Company P after one year on investment of Rs. 5.325 lakhs in the year 1997

= Rs. [5.325 + (9% of 5.325)] lakhs

= Rs. 5.80425 lakhs

= Rs. 5,80,425.

6. During which of the following pairs of years, the strength of the school was same?
A. 1999 and 2001
B. 1998 and 2000
C. 1997 and 1998
D. 1996 and 2000

Answer: Option D

Explanation:

As calculated above, in the years 1996 and 2000 the strength of the school was same i.e., 3100.

7. Among the given years, the largest number of students joined the school in the year?
A. 1996
B. 1998
C. 2001
D. 2000

Answer: Option C

Explanation:

As calculated above, the largest number of students (i.e., 550) joined the school in the year 2001.

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