Question
Mr. P invested Rs. ‘5x’ in scheme ‘A’ offering
simple interest of 20% 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. 4320, then find the value of ‘10x’.Solution
According to question; 1.44 × {0.20 × 4 × 5x} = 4320 Or, {0.2 × 4 × 5x} = 3000 Or, x = 750 So, 10x = 10 × 750 = 7500
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