Question
Meera deposited Rs. βWβ in a bank offering compound
interest of 9% p.a. compounded annually. After 3 years, she invested the amount received from the bank in scheme βGβ and βHβ in the ratio of 5:4 respectively. Scheme βHβ offers compound interest of 25% p.a. compounded annually while scheme βGβ offers simple interest of 10% p.a. If total interest received by her from schemes G and H together at the end of 2 years is Rs. 2970, then find the value of βWβ.Solution
ATQ Let amount invested in scheme βGβ and scheme βHβ be Rs. β5sβ and Rs. β4sβ, respectively. So, 0.10 Γ 2 Γ 5s + 0.50 Γ 4s = 2970 Or, 1.0s + 2.0s = 2970 Or, 3.0s = 2970 Or, s = 990 So, W = (5 Γ 990 + 4 Γ 990)/(1.09 Γ 1.09 Γ 1.09) = Rs. 4500
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