Mathematics · Compound Interest
Parimal invested a certain sum in a scheme paying 10% simple interest per annum, while Reshma invested only two-thirds of the sum that Parimal invested, but in a scheme paying 20% interest per annum compounded annually. Also, while Parimal invested for 2 years, Reshma invested for 3 years. If the difference in the amounts received by Parimal and Reshma at the end of the respective maturity periods was ₹972, what was the sum (in ₹) that Reshma had invested?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 113,250
- 213,750
- 313,500✓
- 413,000
Correct answer
13,500
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