Question
Suresh deposited Rs. ‘Q’ in a bank offering compound
interest of 7% p.a. compounded annually. After 5 years, he invested the amount received from the bank in scheme ‘K’ and ‘L’ in the ratio of 10:7 respectively. Scheme ‘L’ offers compound interest of 21% p.a. compounded annually while scheme ‘K’ offers simple interest of 11% p.a. If total interest received by him from schemes K and L together at the end of 2 years is Rs. 4026.4, then find the value of ‘Q’.Solution
ATQ Let amount invested in scheme ‘K’ and scheme ‘L’ be Rs. ‘10u’ and Rs. ‘7u’, respectively. So, 0.11 × 2 × 10u + 0.42 × 7u = 4026.4 Or, 2.2u + 2.94u = 4026.4 Or, 5.14u = 4026.4 Or, u = 783.23 So, Q = (10 × 783.23 + 7 × 783.23)/(1.07 × 1.07 × 1.07 × 1.07 × 1.07) = Rs. 7000
The Radcliffe Line is a boundary between:
Which are the two most essential rights to a democracy?
The Reserve Bank of India (RBI) has raised the minimum net owned fund (NOF) requirement of the existing Asset Reconstruction Company (ARC) to Rs ______ ...
Which city is called lake city in M.P?
Who among the following was a ruler of the Rashtrakuta dynasty?
IG National Tribal University to be set up in which state?
In a food chain, secondary producers are ______.
Veteran journalist and TV anchor Karan Thapar is the author of which of the following books?
Some students are standing in a row. Varsha is 10th from the right and 6th from the left. Later, the total students became 20. How many new students joi...
What does ECG mean as per the SEBI norms?
Relevant for Exams:
