Question

A bank offers 8% on 1st year and 9% on  2nd year. If Rs.17658 are received after investing for 2 years, what was the amount invested ?
1. 15000
2. 15632
3. 15421
4. 15115

Answer 1

Correct Answer - Option 1 : 15000

Given

Amount = Rs.17658

Time = 2 years

Concept used

Ci = \(x + y + \frac{{xy}}{{100}}\)

Calculation

R₁ = 8% and R₂ = 9%

Ci for 2 years

⇒ \(8 + 9 + \frac{{8 × 9}}{{100}}\)

⇒ 17 + 0.72

⇒ 17.72%

Let the principal be 100

Principal + Interest = Amount

100 + 17.72 = 117.72%

Amount

⇒ 17658 / 11772 × 10000

Amount = Rs.15000