Question
A total of Rs. 17400 is shared between 'X' and 'Y' in the
ratio 11:7. If 'Y' invests his portion in a compound interest scheme at a rate of 10% per annum, compounded annually, what will be the total value of his investment after 2 years?Solution
ATQ,
Amount received by 'Y' = 17400 Ă— (7/18) = Rs. 6750
So, total amount received by 'Y' after 2 years = 6750 × {(1 + (10/100))}² = Rs. 8175
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