Question
Sneha deposited Rs. βRβ in a bank offering compound
interest of 13% p.a. compounded annually. After 3 years, she invested the amount received from the bank in scheme βMβ and βNβ in the ratio of 4:3 respectively. Scheme βNβ offers compound interest of 17% p.a. compounded annually while scheme βMβ offers simple interest of 16% p.a. If total interest received by her from schemes M and N together at the end of 2 years is Rs. 3564, then find the value of βRβ.Solution
ATQ Let amount invested in scheme βMβ and scheme βNβ be Rs. β4vβ and Rs. β3vβ, respectively. So, 0.16 Γ 2 Γ 4v + 0.36 Γ 3v = 3564 Or, 1.28v + 1.08v = 3564 Or, 2.36v = 3564 Or, v = 1510.17 So, R = (4 Γ 1510.17 + 3 Γ 1510.17)/(1.13 Γ 1.13 Γ 1.13) = Rs. 8000
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