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An equal sum is invested in two different schemes. One scheme gives simple interest and the other gives compound interest. The sum of interest obtained after 2 years from both the schemes is Rs. 5369. If both schemes have 13% per annum interest rate, then what is the total sum?
  • a)
    10,000
  • b)
    15,000
  • c)
    20,000
  • d)
    22,000
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
An equal sum is invested in two different schemes. One scheme gives si...
Net percentage of SI in 2 years = 13 + 13 = 26%
Net percentage of CI in 2 years = 13 + 13 + (13 × 13)/100 = 27.69%
According to question
CI + SI = 26 + 27.69 = 53.69
⇒ 53.69 unit = Rs. 5369
⇒ 100 unit = 5369/53.69 × 100 = Rs. 10,000
∵ An equal sum is invested in two different schemes
⇒ Total sum = 2 × 10,000 = Rs. 20,000
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An equal sum is invested in two different schemes. One scheme gives simple interest and the other gives compound interest. The sum of interest obtained after 2 years from both the schemes is Rs. 5369. If both schemes have 13% per annum interest rate, then what is the total sum?a)10,000b)15,000c)20,000d)22,000Correct answer is option 'C'. Can you explain this answer?
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