1.

A person invested Rs. 25000 in bank for 2 years at simple interest at rate 30% per annum. After 2 years, the person invested the whole amount in another scheme for 3 years at C.I at 10%?find Interest

Answer»

Rs. 28240



After TWO years, the SIMPLE interest would be
25000 x 30 x 2 / 100 = 15000
∴ Amount = 25000+15000 = 40000
Now, the COMPOUND interest in three years, would be 
40000 x (110/100)3 - 40000
= 53240 - 40000
= 13240
∴ Total interest received = 15000 + 13240



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