Question

'K' distributed his investments among two distinct funds, Mutual Fund X and Mutual Fund Y, in the respective ratio of 9:8. While Mutual Fund X generates simple interest, Mutual Fund Y yields compound interest, compounded annually, both at a 20% annual rate for a duration of two years. Afterward, the cumulative interest accrued amounts to Rs. 3560. Calculate the total sum that 'K' initially invested?

A Rs.8200
B Rs.8520
C Rs.8500
D Rs.8000
Practice Next

More Simple and compound interest Questions

Hey! Ask a query