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      Question

      The interest received on investing Rs. 15,000 for 5

      years at simple interest of 'y%' p.a. is Rs. 18,750. Find the total amount received on investing Rs. 12,000 for 2 years at compound interest of 'y%' p.a., compounded annually.
      A Rs. 18,750 Correct Answer Incorrect Answer
      B Rs. 17,250 Correct Answer Incorrect Answer
      C Rs. 19,400 Correct Answer Incorrect Answer
      D Rs. 18,000 Correct Answer Incorrect Answer
      E Rs. 15,600 Correct Answer Incorrect Answer

      Solution

      According to the question, 15000 X (5 X y ├╖ 100) = 18750 Or, 750y = 18750 So, y = 18750 ├╖ 750 = 25 So, total amount received on investing Rs. 12000 = 12000 X {1 + (25/100)}┬▓ = 12000 X 1.25┬▓ = Rs. 18,750

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