SSC CHSL 2025 · PYQ · Simple and Compound Interest · medium
₹12,000 is invested at the rate of 8% p.a. for 4 years at simple interest in scheme 'A'. The amount received from scheme 'A' is then invested for 2 years at rate of 5% p.a., compounded annually in scheme 'B'. Find the amount received from scheme 'B'.
A.₹17,999
B.₹17,677
C.₹17,463.6✓ Correct
D.₹11,460.5
Explanation
SI for scheme A = 12000 × 8 × 4/100 = ₹3840. Amount from A = 15840. CI for scheme B = 15840 × (1.05)² = 15840 × 1.1025 = ₹17,463.6.
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