Correct Answer - Option 2 : Rs. 18750
Given∶
Interest he get compounded = Rs. 2715
Time period ∶ 2
Rate of interest for the successive years = 6% and 8%
Formula Used∶
A = P (1 + R1/100) (1 + R2/100) (1 + R3/100)..........
CI = A - P
Calculation∶
Use the formula,
A = P(1 + R1/100) (1 + R2/100)
⇒ A = P(1 + 6/100) (1 + 8/100)
⇒ P (53/50 × 27/25)
⇒ 1431 P/1250
CI = A - P = (1431P/1250) - P
⇒ 181P/1250
CI = 181P/1250 (1)
Also, CI = 2715 (2)
From eq.(1) and (2)
181P/1250 = 2715
⇒ P = (2715 × 1250)/181 = Rs. 18750
∴ Jagan invested the sum of Rs. 18750.