Question
A man deposited Rs. ‘x + 900’ at 12% per annum simple interest and earned Rs. 528 as interest after 2 years. Find the interest earned by him if he deposited Rs. 2x at 10% per annum for 2 years at compound interest.
Solution
So, {(x + 900) × 0.12 × 2 = 528 0.24x + 216 = 528 x = 312/0.24 = 1900 So, required interest earned = 2 × 1900 × 0.21 = Rs. 546
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