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Question

Rs. 5500 is invested in scheme ‘A’ for a year at simple interest of 30% p.a. The interest received from scheme ‘A’ is reinvested for 2 years in scheme ‘B’ which offers compound interest (compounded annually) of 30% p.a. What is the total amount received from scheme ‘B’?

A Rs. 2488.5

B Rs. 2988.5

C Rs. 2788.5

D Rs. 2188.5

E None of these

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