📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    Raj invested Rs. ‘5y’ in scheme ‘C’ offering

    simple interest of 20% p.a. and reinvested the interest earned from scheme ‘C’ at the end of 3 years in scheme ‘D’ offering compound interest of 25% p.a. compounded annually. If the total amount received from scheme ‘D’ after 1 year is Rs.1500, find the value of ‘15y’.
    A 1520 Correct Answer Incorrect Answer
    B 1120 Correct Answer Incorrect Answer
    C 6000 Correct Answer Incorrect Answer
    D 1200 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    According to the question; 1.25 × {0.20 × 3 × 5y} = 1500 Or, {0.20 × 3 × 5y} = 1200 Or, y = 400 So, 15y = 15 × 400 = 6000

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question