Mathematics · Simple and Compound Interest
A company allocated a certain sum to a reserve for 2 years at 25% simple interest per annum. After 2 years, it reinvested the total amount received at 10% per annum compound interest for 2 years. If the final amount received after 2 years is 10890, find the sum initially allocated by the company.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 26000✓
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Correct answer
6000
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