Question
A deposited Rs. 5500 at 22% per annum compound interest
in scheme A for 2 years. After 2 years, he deposited total amount at 12% simple interest per annum in another scheme B. Find the interest earned from scheme B after 5 years.Solution
Total amount earned from scheme A = 5500 × (1.22)2 = Rs. 8186.20 Interest earned from scheme B = (8186.20 × 12 × 5)/100 = Rs. 4911.72
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