Question
A sum of Rs. 14500 is split between 'A' and 'B' in the
ratio 16:13. If 'B' invests the sum with him in a scheme offering compound interest (compounded annually) of 20% p.a., then how much will the sum amounts to in 2 years?Solution
Amount received by 'B' = 14500 x (13/29) = Rs. 6500So, total amount received by 'B' after 2 years = 6500 x {(1 + (20/100)}2 = Rs. 9360
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