A scheme works on simple interest for first two years and on compound interest for next...

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A scheme works on simple interest for first two years and on compound interest for next two years. After completion of first two years, interest generated is withdrawn. If the rate of interest is 18% per annum and amount invested is Rs. 9500, find the amount of interest that will be generated in four years. 1. Rs. 6020 2. Rs. 6480.2 3. Rs. 6882.5 4. Rs. 7147.8 Cannot be determined 5. A scheme works on simple interest for first two years and on compound interest for next two years. After completion of first two years, interest generated is withdrawn. If the rate of interest is 18% per annum and amount invested is Rs. 9500, find the amount of interest that will be generated in four years. 1. Rs. 6020 2. Rs. 6480.2 3. Rs. 6882.5 4. Rs. 7147.8 Cannot be determined 5.

Answer rating: 100% (QA)

Solution 4 We know Simple interest Principal x Rate x Time10... View the full answer