Rohan deposited Rs. ‘Y’ in a bank offering compound interest of 10% p.a. compounded annually. After 3 years, he invested the amount received from the bank in scheme ‘C’ and ‘D’ in the ratio of 7:3 respectively. Scheme ‘D’ offers compound interest of 18% p.a. compounded annually while scheme ‘C’ offers simple interest of 12% p.a. If total interest received by him from schemes C and D together at the end of 2 years is Rs. 1584, then find the value of ‘Y’.
ATQ Let amount invested in scheme ‘C’ and scheme ‘D’ be Rs. ‘7q’ and Rs. ‘3q’, respectively. So, 0.12 × 2 × 7q + 0.36 × 3q = 1584 Or, 1.68q + 1.08q = 1584 Or, 2.76q = 1584 Or, q = 574.78 So, Y = (7 × 574.78 + 3 × 574.78)/(1.1 × 1.1 × 1.1) = Rs. 4000
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