Question:
A sum of money is invested at compound interest for 3 years. However, the rate of interest is\(10\%\)for first year,\(15\%\)for second year and\(20\%\)for third year. If the total interest earned is Rs.15,540, then what was the sum of money invested?
A sum of money is invested at compound interest for 3 years. However, the rate of interest is\(10\%\)for first year,\(15\%\)for second year and\(20\%\)for third year. If the total interest earned is Rs.15,540, then what was the sum of money invested?
Updated On: Oct 22, 2024
- Rs.25,000
- Rs.40,000
- Rs.30,000
- Rs.36,000
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The Correct Option is C
Solution and Explanation
The correct answer is (C),Rs.30,000
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