Mathematics · Interest

A farmer invested Rs. 2000 in a rural development scheme offering a 10% interest rate compounded annually. After 2 years, he invested the total amount received into another scheme offering a 5% simple interest rate for 3 years. Find the total interest obtained across the entire 5-year period.

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Rs. 700
2Rs. 2783
3Rs. 363
4Rs. 783✓

Correct answer

Rs. 783

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A farmer invested Rs. 2000 in a rural development scheme offering a 10% interest rate compounded annually. After 2 years, he invested the total amount received into another scheme offering a 5% simple interest rate for 3 years. Find the total interest obtained across the entire 5-year period.

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A farmer invested Rs. 2000 in a rural development scheme offering a 10% interest rate compounded annually. After 2 years, he invested the total amount received into another scheme offering a 5% simple interest rate for 3 years. Find the total interest obtained across the entire 5-year period.

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