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    Question

    Akhil borrowed ₹6500 at a simple interest rate of 27% per

    annum for 8 years. After 8 years, he added ₹X to the total amount (principal + interest) and reinvested the entire sum at a simple interest rate of 15% per annum for 2 years. If the interest earned from this second investment after 2 years was ₹7200, find the value of ₹X.
    A Rs 2840 Correct Answer Incorrect Answer
    B Rs 3250 Correct Answer Incorrect Answer
    C Rs 3460 Correct Answer Incorrect Answer
    D Rs 4140 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Amount received on simple interest = 6500*[1 + 27*8/100] = ₹20540
    Now,
    (20540 + X)*15*2/100 = 7200
    20540 + X = 24000
    X = ₹3460

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