Question
A deposited Rs. 5000 at 18% per annum compound interest in scheme A for 2 years. After 2 years, he deposited total amount at 10% simple interest per annum in another scheme
B. Find the interest earned from scheme B after 10 years.
Solution
Total amount earned from scheme A = 5000 × (1.18)2 = Rs. 6962 Interest earned from scheme B = ( 6962 × 10 × 10)/100 = Rs. 6962
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