Question
A deposited Rs. 7000 at 21% per annum compound interest
in scheme A for 2 years. After 2 years, he deposited total amount at 25% simple interest per annum in another scheme B. Find the interest earned from scheme B after 4 years.Solution
Total amount earned from scheme A = 7000 × (1.21)2 = Rs. 10248.70 Interest earned from scheme B = (10248.7 × 25 × 4)/100 = Rs. 10248.70
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