A certain bank offers 8% rate of interest on the 1st year and 9% on the 2nd year in a certain fixed deposit scheme. If Rs 17,658 are received after investing for 2 years in this scheme, then what was the amount (in Rs) invested?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 15000
Let the invested money = Rs x
A/Q
x × 108/100 × 109/100 = 17658
x = 17658/108×109 × 100 × 100 = Rs 15000