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    Question

    Rs. 85Y when invested for 4 years at simple interest of

    11% p.a., yields an interest of Rs. 2992. If Rs. 105Y is invested for 3 years at compound interest (compounded annually) of 10% p.a., then find the amount received.
    A RS.5000 Correct Answer Incorrect Answer
    B Rs.7526 Correct Answer Incorrect Answer
    C Rs.6922 Correct Answer Incorrect Answer
    D Rs.3571 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ, (85Y × 4 × 11) ÷ 100 = 37.4Y = 2992 So, Y = 2992 ÷ 37.4 = 80 And so, sum invested at compound interest = 105Y = 105 × 80 = Rs. 8400 So, required amount received = 8400 × {(1 + (10/100))}³ = 8400 × 1.1³ = Rs. 11,197.

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