Mathematics · Compound and Simple Interest
Mr. Sharma invested a certain amount in a financial company at a 10% per annum interest rate, compounded annually for two years. He lent out the interest earned from this scheme to Mr. Verma at a rate of 3% per annum simple interest. After 2 years, Mr. Verma paid Rs. 3,339 to Mr. Sharma to clear the total loan amount and interest. What was the actual amount invested by Mr. Sharma in the financial company?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 12,000
- 2Rs. 10,500
- 3Rs. 17,000
- 4Rs. 15,000✓
Correct answer
Rs. 15,000
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