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December 30 2017
Question Satish invest Rs. 35,500 in a scheme which earns him simple interest at 15% p.a. for two years. At the end of 2 years he reinvested the principle amount plus interest earned in another scheme which earned him compound interest at 20% p.a. What will be the total interest earned by Satish over the principal amount at the end of 5 years?

S.I. = 35500 x (15/100) x 2 = Rs. 10650

Now A = 35500 + 10650 = Rs. 46150

C.I. for 3 years = 46150 [(1 + 20/100)3 – 1] = Rs. 33597.20

Total Interest = 10650 + 33597.20 = Rs. 44247.20


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