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- Quantitative Aptitude
Raghu invested a certain sum in Scheme $X$ for $4$ years.Scheme $X$ offers simple interest at $12$ per cent pa for the firsttwo years and compound interest (compounded annually) at $20$ per cent pa for the next two years. The total interest earned by him after $4$ years is ₹ $11016 .$ What was the sum (In ₹) invested by Raghu in Scheme $X ?$
$17400$
$18400$
$16200$
$11400$
Solution
(c) Let the sum of money invested by Raghu be $₹ P$.
Then
$\frac{P \times 12 \times 2}{100}+\left\{P\left(1+\frac{20}{100}\right)^{2}-1\right\}=11016$
or, $\frac{24 P}{100}+P\left\{\left(\frac{6}{5}\right)^{2}-1\right\}=11016$
or $, \frac{24 P}{100}+\frac{11 P}{25}=11016$
or, $\frac{24 P+44 P}{100}=11016$
or, $68 P =11016 \times 100$
$\therefore P=\frac{11016 \times 100}{68}=₹ 16200$
