Question
Vishal has certain sum of money with him. He invested
80% of the sum in scheme โXโ offering 15% p.a. simple interest for 8 years and received Rs. 2760 as interest. He then invested the amount received from scheme โXโ in scheme โYโ for 2 years at 50% p.a., compound interest compounded annually. Find the amount received by Vishal from scheme B.ย ยSolution
Let, Vishal invested Rs. x in scheme โXโ According to the question, {(x ร 15 ร 8)/100} = 2760 Or, x = 2760/1.2 Or, x = 2300 Total sum Vishal had = 2300/0.8 = Rs. 2875 Amount received from scheme โXโ = 2300 + 2760 = Rs. 5060 Amount received from scheme โYโ = 5060(1 + 50/100)2 = Rs. 11385ย
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