A person invested P on compound interest at the rate of 10\% for 2 years, and invested (P+200) at the rate of 14\% simple interest for 4 years. The total interest obtained is 6965. Find the total amount (in rupees) invested by the person.
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8900
-
18000
-
17500
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17800
-
15800
B
Correct answer
Explanation
First investment: P at 10% CI for 2 years. Amount = P(1.1)^2 = 1.21P. Interest = 0.21P. Second: (P + 200) at 14% SI for 4 years. Interest = (P + 200) * 0.14 * 4 = 0.56(P + 200) = 0.56P + 112. Total interest = 0.21P + 0.56P + 112 = 0.77P + 112 = 6965. So 0.77P = 6853, P = 6853/0.77 = 8900. Total amount invested = P + (P + 200) = 2P + 200 = 17800 + 200 = 18000. The answer represents the total principal invested across both schemes.