Question
A deposited Rs. 8800 at 20% 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 12 years.Solution
Total amount earned from scheme A = 8800 × (1.20)2 = Rs. 12672 Interest earned from scheme B = (12672 × 12 × 4)/100 = Rs. 6082.56
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