Question

Suresh deposited Rs. ‘Q’ in a bank offering compound

Q: Answer-Suresh deposited Rs. ‘Q’ in a bank offering compound interest of 7% p.a. compounded annually. After...

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 7 783.231.07 1.07 1.07 1.07 1.07 Rs. 7000

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’.

A Rs.7000

B Rs.4500

C Rs.6000

D Rs.5000

E None of these

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