📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Priya invested Rs. 5,500 in scheme ‘C’ offering simple

      interest of 12% p.a. After 5 years, she reinvested the interest earned in scheme ‘D’ offering compound interest of 9% p.a compounded annually. Find the total amount Priya received from scheme ‘D’ after 3 years.
      A Rs.2,149.28 Correct Answer Incorrect Answer
      B Rs.5,149.28 Correct Answer Incorrect Answer
      C Rs.4,273.50 Correct Answer Incorrect Answer
      D Rs.3,932.50 Correct Answer Incorrect Answer

      Solution

      ATQ,

      Interest received from scheme ‘C’ = (5500 × 12 × 5) ÷ 100 = Rs. 3,300

      Total amount received from scheme ‘D’ = 3300 × {1 + (9/100)}³ = 3300 × (109/100)³

      = 3300 × 1.295 = Rs. 4,273.50

      Practice Next
      More Simple and compound interest Questions
      ask-question