M invested Rs. 27,000 in two Mutual Funds, 'Axis Funds' and 'ICICI Funds,' for 5 years and 2 years, respectively. 'Axis Funds' provide simple interest at 20% per annum, while 'ICICI Funds' offer compound interest compounded annually at 30% per annum. Determine the amount invested in 'ICICI Funds' if the interest earned from 'Axis Funds' exceeds that from 'ICICI Funds' by Rs. 1,650.
ATQ, Let the sum invested in Mutual fund ‘ICICI’ be Rs. ‘a’ Sum invested in Mutual fund ‘Axis’ = Rs. (27000 – a) Simple interest earned from Mutual fund ‘Axis’ = {(27000 – a) × 20 × 5}/100 = Rs. (27000 – a) And, compound interest earned from Mutual fund ‘ICICI’ = a × [{1 + (30/100)}2 – 1] = Rs. ‘0.69a’ According to question: 27000 – a – 0.69a = 1650 Or, 1.69a = 25350 Or, a = 15000
_____________ marketing concept focuses on delivering customer satisfaction along with improving the consumer's and the society's well-being.
A dishwash liquid manufacturing company comes up with mild formula for lightly soiled utensils, lemon mix formula for medium soiled utensils and lemon a...
Which survey type is usually biased because those likely to respond have had especially positive or negative experiences with a given product, service, ...
What is the international agreement which includes Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar, and Cambodia?
When Google tried to open an office in China to sell its web services and advertising tools, which was eventually shut down, Google was trying to engage...
A social audit:
Femina high magazine is a new publication designed to appeal to women over the age of 40. Demand for such magazines is an example of how changing _____ ...
Companies like Hewlett-Packard and Frito-Lay routinely monitor blogs to gain insight into
The correct rank order of social media sites from least to most popular as measured by the number of unique U.S. visitors as of September 2011 is
Which type of store gives shoppers the greatest variety of merchandise?
