Question
A man deposited Rs. ‘x + 700’ at 12% per annum
simple interest and earned Rs. 624 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 + 700) × 0.12 × 2 = 624 0.24x + 168 = 624 x = 456/0.24 = 1900 So, required interest earned = 2 × 1900 × 0.21 = Rs. 798
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