Question

Rs. 8800 is invested in scheme ‘A’ for a year at

Q: Rs. 8800 is invested in scheme ‘A’ for a year at simple interest of 20% p.a. The interest receiv

InterestreceivedfromschemeA880020100Rs1760AmountreceivedfromschemeB1760140100sup2sup1961760Rs34496

simple interest of 20% p.a. The interest received from scheme ‘A’ is reinvested for 2 years in scheme ‘B’ which offers compound interest (compounded annually) of 40% p.a. What is the total amount received from scheme ‘B’?

A Rs. 3549.6

B Rs. 3349.6

C Rs. 3449.6

D Rs. 3849.6

E None of these

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Relevant for Exams:

Bank of Maharashtra Scale 2/3 (Generalist Officer)

Bank of Maharashtra Generalist Officer

Question

Rs. 8800 is invested in scheme ‘A’ for a year at

Solution

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