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Raghu invested a certain sum in Scheme X for 4years. Scheme X offers simple interest @ 12 pcpa for the first two years and compound interest (compounded annually) @ 20 pcpa for the next two years on the principal amount. The total interest earned by him after 4 years is Rs.11016. What was the sum invested by Raghu in Scheme X?
- a)14000
- b)25000
- c)16789
- d)16200
- e)None of these
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Raghu invested a certain sum in Scheme X for 4years. Scheme X offers ...
Given:
Raghu invested a certain sum in Scheme X for 4 years.
Scheme X offers simple interest of 12% per annum for the first two years.
Scheme X offers compound interest (compounded annually) of 20% per annum for the next two years.
The total interest earned by Raghu after 4 years is Rs. 11,016.
To find:
The sum invested by Raghu in Scheme X.
Solution:
Let's assume the sum invested by Raghu in Scheme X is Rs. P.
Calculating the Simple Interest:
For the first two years, Raghu earns simple interest at the rate of 12% per annum.
Simple Interest for 2 years = (P * 12 * 2) / 100 = (24P/100)
Calculating the Compound Interest:
For the next two years, Raghu earns compound interest at the rate of 20% per annum.
Compound Interest for 2 years = P * (1 + (20/100))^2 - P = P * (1.2)^2 - P = (1.44P - P) = 0.44P
Total Interest Earned:
The total interest earned by Raghu after 4 years is Rs. 11,016.
So, (24P/100) + 0.44P = 11,016
0.24P + 0.44P = 11,016
0.68P = 11,016
P = 11,016 / 0.68
P ≈ Rs. 16,200
Therefore, the sum invested by Raghu in Scheme X is approximately Rs. 16,200.
Raghu invested a certain sum in Scheme X for 4 years.
Scheme X offers simple interest of 12% per annum for the first two years.
Scheme X offers compound interest (compounded annually) of 20% per annum for the next two years.
The total interest earned by Raghu after 4 years is Rs. 11,016.
To find:
The sum invested by Raghu in Scheme X.
Solution:
Let's assume the sum invested by Raghu in Scheme X is Rs. P.
Calculating the Simple Interest:
For the first two years, Raghu earns simple interest at the rate of 12% per annum.
Simple Interest for 2 years = (P * 12 * 2) / 100 = (24P/100)
Calculating the Compound Interest:
For the next two years, Raghu earns compound interest at the rate of 20% per annum.
Compound Interest for 2 years = P * (1 + (20/100))^2 - P = P * (1.2)^2 - P = (1.44P - P) = 0.44P
Total Interest Earned:
The total interest earned by Raghu after 4 years is Rs. 11,016.
So, (24P/100) + 0.44P = 11,016
0.24P + 0.44P = 11,016
0.68P = 11,016
P = 11,016 / 0.68
P ≈ Rs. 16,200
Therefore, the sum invested by Raghu in Scheme X is approximately Rs. 16,200.
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Raghu invested a certain sum in Scheme X for 4years. Scheme X offers ...
Let the sum of money invested by Raghu be P.
Then,
Simple interest rate in two years = 12×2 = 24%
Compound interest rate in two years = 20+20+(20×20/100) = 44%
Total interest rate in four years = 24 + 44 = 68%
According to question,
68% of Amount = 11016
Amount = 16200
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Raghu invested a certain sum in Scheme X for 4years. Scheme X offers simple interest @ 12 pcpa for the first two years and compound interest (compounded annually) @ 20 pcpa for the next two years on the principal amount. The total interest earned by him after 4 years is Rs.11016. What was the sum invested by Raghu in Scheme X?a)14000b)25000c)16789d)16200e)None of theseCorrect answer is option 'D'. Can you explain this answer?
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Raghu invested a certain sum in Scheme X for 4years. Scheme X offers simple interest @ 12 pcpa for the first two years and compound interest (compounded annually) @ 20 pcpa for the next two years on the principal amount. The total interest earned by him after 4 years is Rs.11016. What was the sum invested by Raghu in Scheme X?a)14000b)25000c)16789d)16200e)None of theseCorrect answer is option 'D'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Raghu invested a certain sum in Scheme X for 4years. Scheme X offers simple interest @ 12 pcpa for the first two years and compound interest (compounded annually) @ 20 pcpa for the next two years on the principal amount. The total interest earned by him after 4 years is Rs.11016. What was the sum invested by Raghu in Scheme X?a)14000b)25000c)16789d)16200e)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Raghu invested a certain sum in Scheme X for 4years. Scheme X offers simple interest @ 12 pcpa for the first two years and compound interest (compounded annually) @ 20 pcpa for the next two years on the principal amount. The total interest earned by him after 4 years is Rs.11016. What was the sum invested by Raghu in Scheme X?a)14000b)25000c)16789d)16200e)None of theseCorrect answer is option 'D'. Can you explain this answer?.
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