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    Question

    Arjun deposited Rs. ‘Z’ in a bank offering compound

    interest of 8% p.a. compounded annually. After 4 years, he invested the amount received from the bank in scheme ‘E’ and ‘F’ in the ratio of 8:3 respectively. Scheme ‘F’ offers compound interest of 22% p.a. compounded annually while scheme ‘E’ offers simple interest of 14% p.a. If total interest received by him from schemes E and F together at the end of 2 years is Rs. 3240, then find the approximate value of ‘Z’.
    A Rs.4000 Correct Answer Incorrect Answer
    B Rs.3667 Correct Answer Incorrect Answer
    C Rs.7066 Correct Answer Incorrect Answer
    D Rs.5500 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

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