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    Question

    Rs. 7550 is invested in scheme β€˜A’ for a year at

    simple interest of 30% p.a. The interest received from scheme β€˜A’ is reinvested for 2 years in scheme β€˜B’ which offers compound interest (compounded annually) of 30% p.a. What is the total amount received from scheme β€˜B’?
    A Rs. 3227.85 Correct Answer Incorrect Answer
    B Rs. 3627.85 Correct Answer Incorrect Answer
    C Rs. 3827.85 Correct Answer Incorrect Answer
    D Rs. 3327.85 Correct Answer Incorrect Answer

    Solution

    Interest received from scheme β€˜A’ = 7550 Γ— (30/100) = Rs. 2265 Amount received from scheme β€˜B’ = 2265 Γ— {1 + (30/100)2} = 1.69 Γ— 2265 = Rs. 3827.85

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