Question
Raj invested Rs. β5yβ in scheme βCβ offering
simple interest of 20% p.a. and reinvested the interest earned from scheme βCβ at the end of 3 years in scheme βDβ offering compound interest of 25% p.a. compounded annually. If the total amount received from scheme βDβ after 1 year is Rs.1500, find the value of β15yβ.Solution
According to the question; 1.25 Γ {0.20 Γ 3 Γ 5y} = 1500 Or, {0.20 Γ 3 Γ 5y} = 1200 Or, y = 400 So, 15y = 15 Γ 400 = 6000
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