A sum of money invested for 7years in Scheme 1 which offers SI at a rate of 8 pa The amount received...........

Quant (SSC) Compound Interest

A sum of money invested for 7years in Scheme 1 which offers SI at a rate of 8% pa. The amount received from Scheme 1 after 7 years invested for 2 years in Scheme 2 which offers CI rate of 10% pa. If the interest received from Scheme B was Rs.1638. What was the sum invested in Scheme 1 ?

Rs.7500

Rs.5000

Rs.8200

Rs.9000

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Explanation:

SI =>Amount = x*8*7/100 + x = 56x+100x/100 = 156x/100 = 39x/25
CI=> 39x/25[(1+10/100)² – 1] 1638 = 39x/25[121/100 – 1] = 39x/100[21/100] X = 1638*100*25/21*39 = 5000