πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!


    Question

    Sunil invested Rs. β€˜4x’ in scheme β€˜A’ offering

    simple interest of 20% p.a. and reinvested the interest earned from scheme β€˜A’ at the end of 4 years in scheme β€˜B’ offering compound interest of 20% p.a. compounded annually. If total amount received from scheme β€˜B’ after 2 years is Rs. 1440, then find the value of β€˜16x’.
    A 5500 Correct Answer Incorrect Answer
    B 5250 Correct Answer Incorrect Answer
    C 5000 Correct Answer Incorrect Answer
    D 5350 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    According to question; 1.44 Γ— {0.20 Γ— 4 Γ— 4x} = 1440 Or, {0.25 Γ— 4 Γ— 5x} = 1000 Or, x = 312.5 So, 16x = 16 Γ— 312.5 = 5000

    Practice Next
    ask-question