1.

A certain bank offers 8% rate of compound interest on the 1st year and 9% on the 2nd year in a certain fixed deposit scheme. If Rs. 17,658 is received after investing for 2 years in this scheme, then what was the amount (in Rs) invested?1). 160002). 150003). 155004). 16500

Answer»

According to question,

17658 = P(1 + 8/100)(1 + 9/100)

⇒ 17658 = P × 108/100 × 109/100

⇒ P = RS. 15000

∴ The AMOUNT INVESTED = Rs. 15000


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