A certain bank offers 8% rate of interest on the $$1^{st}$$ year and 9% on the $$2^{nd}$$ year in a certain fixed deposit scheme. If Rs 17,658 are received after investing for 2 years in this scheme, then what was the amount (in Rs) invested?
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
B is correct choice.
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