Question

    A certain sum when invested at compound interest of 10%

    p.a. amounts to Rs. 6050 in 2 years. Find the amount received when the same sum is invested at 25% p.a. simple interest for 4 years.
    A Rs 9000 Correct Answer Incorrect Answer
    B Rs 9500 Correct Answer Incorrect Answer
    C Rs 10000 Correct Answer Incorrect Answer
    D Rs 10500 Correct Answer Incorrect Answer
    E Rs 11000 Correct Answer Incorrect Answer

    Solution

    Let the sum invested at compound interest be Rs. x
    According to the question,
    x(1 + 10/100) 2 = 6050
    or, x = 6050/1.21 = Rs. 5000
    Required amount received = {(5000 × 25 × 4)/100} + 5000 = Rs. 10000

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