Question
Sneha deposited Rs. ‘R’ in a bank offering compound interest of 13% p.a. compounded annually. After 3 years, she invested the amount received from the bank in scheme ‘M’ and ‘N’ in the ratio of 4:3 respectively. Scheme ‘N’ offers compound interest of 17% p.a. compounded annually while scheme ‘M’ offers simple interest of 16% p.a. If total interest received by her from schemes M and N together at the end of 2 years is Rs. 3564, then find the value of ‘R’.
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