New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Mr. P invested Rs. ‘10x’ 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. 1440, then find the value of ‘13x’.
    A 1600 Correct Answer Incorrect Answer
    B 1650 Correct Answer Incorrect Answer
    C 1605 Correct Answer Incorrect Answer
    D 1625 Correct Answer Incorrect Answer

    Solution

    According to question; 1.44 × {0.20 × 4 × 10x} = 1440 Or, {0.20 × 4 × 10x} = 1000 Or, x = 125 So, 13x = 13 × 125 = 1625

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