Question
Sunil invested Rs. ‘5x’ in scheme ‘A’ offering
simple interest of 25% p.a. and reinvested the interest earned from scheme ‘A’ at the end of 4 years in scheme ‘B’ offering compound interest of 20% p.a. compounded annually. If total amount received from scheme ‘B’ after 2 years is Rs. 1008, then find the value of ‘14x’.Solution
According to question; 1.44 × {0.25 × 4 × 5x} = 1008 Or, {0.25 × 4 × 5x} = 700 Or, x = 140 So, 14x = 14 × 140 = 1960
If the ratio of the sum invested and simple interest received after 1 year is 25:11 respectively, then find the rate of interest.
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