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Question 85
Ganesh invested an amount of Rs x in a fixed deposit scheme offering 5% per annum for 1st year and 15% per annum for 2nd year and received an amount of Rs 9660 after two years. What is the value of x (in Rs)?
Solution
P$$(1+\frac{5}{100})(1+\frac{15}{100}) = 9660$$
P$$(1+\frac{1}{20})(1+\frac{3}{20}) = 9660$$
P$$(\frac{21}{20})(\frac{23}{20}) = 9660$$
$$P = 8000$$
So the answer is option B.
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