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Question

Rudra invested in scheme R for 4 yr. If scheme R offers simple interest @ 7 pcpa for the first 2 yr and then compound interest @ 10 pcpa (compounded annually) for the 3rd and 4th year, what will be the interest earned (Rs) by Rudra after 4 yrs?
  1. 12364
  2. 11886
  3. 13548
  4. 12096
  5. 12242


Solution

The correct option is D 12096
Amount invested by Rudra in scheme
R=96000×36100=960×36=Rs.34560

Now, simple interest for 2 yr
=34560×7×2100=Rs.4838.4

Compound interest for 2 yr
=34560×21100=Rs.7257.6

Sum = 4838.4 + 7257.6 = Rs. 12096

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