Question
The simple interest received after 7 years on Rs (x +
650) at the rate of 25% p.a is Rs (4x – 1000). The amount received on Rs 6.4x when invested at 50% p.a compound interest, compounded annually for 2 years can be:Solution
According to the question, {(x + 650) × 7 × 25}/100 = (4x – 1000) => 7x + 4450 = 16x – 4000 => 9x = 8550 => x = 950 Therefore, required amount received = 6.4× (1 + 50/100)2 = Rs. 13680
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