Question

Nisha deposited Rs. ‘P’ in a bank offering compound

Q: Answer-Nisha deposited Rs. ‘P’ in a bank offering compound interest of 11% p.a. compounded annually. After...

ATQ Let amount invested in scheme I and scheme J be Rs. 6t and Rs. 5t, respectively. So, 0.13 2 6t 0.38 5t 2794 Or, 1.56t 1.90t 2794 Or, 3.46t 2794 Or, t 807.51 So, P 6 807.51 5 807.511.11 1.11 Rs. 5000

interest of 11% p.a. compounded annually. After 2 years, she invested the amount received from the bank in scheme ‘I’ and ‘J’ in the ratio of 6:5 respectively. Scheme ‘J’ offers compound interest of 19% p.a. compounded annually while scheme ‘I’ offers simple interest of 13% p.a. If total interest received by her from schemes I and J together at the end of 2 years is Rs. 2794, then find the value of ‘P’.

A Rs.4000

B Rs.4500

C Rs.6000

D Rs.5000

E None of these

Practice Next

More Simple and compound interest Questions