Question
Vishal has certain sum of money with him. He invested 80% of the sum in scheme ‘X’ offering 15% p.a. simple interest for 8 years and received Rs. 2640 as interest. He then invested the amount received from scheme ‘X’ in scheme ‘Y’ for 2 years at 50% p.a., compound interest compounded annually. Find the amount received by Vishal from scheme
Vishal has certain sum of money with him. He invested 80% of the sum in scheme ‘X’ offering 15% p.a. simple interest for 8 years and received Rs. 2640 as interest. He then invested the amount received from scheme ‘X’ in scheme ‘Y’ for 2 years at 50% p.a., compound interest compounded annually. Find the amount received by Vishal from scheme
B.
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