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