5 years, 12 months ago
shudhir invested Rs.16000 in a scheme which earned him simple interest @15 % p.a. After two years he withdrew he principal amount plus interest and invested the entire amount in another scheme for two years, which earned him compound interest @12 %p.a. What would be the total interest earned by shudhir at end of 4 years ?
5 years, 12 months ago
Answer : 10091.5
SI earned for 2 years = 30% of 16000=4800
Amount after 2 years = 16000+4800=20800
Scheme B interest 12% pa compunded for 2 years. Hence 25.44% of 20800 will be the interest earned.
25.44% of 20800 = 5291.52
Totat income from interest at the end of 4 years = 4800+5291.52= 10091.5
Hope this helps.