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    Question

    Rs. 3,300 is put into a savings scheme at a simple interest

    rate of 36% per annum for 3 years. The maturity amount is then invested in a business venture that offers 25% compound interest per annum for 2 years. Find the final return from the business venture.
    A Rs. 12,900.50 Correct Answer Incorrect Answer
    B Rs.10,717.50 Correct Answer Incorrect Answer
    C Rs. 18,757.65 Correct Answer Incorrect Answer
    D Rs. 12,536.75 Correct Answer Incorrect Answer

    Solution

    ATQ,

    Amount received from the savings scheme = (3300 × 0.36 × 3) + 3300 = Rs. 6,858

    Amount received from the business venture = 6858(1 + 25/100)² = Rs. 10,717.50

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