Iift 2012 Question 27
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IIFT 2012
Explanation:
Let the amount invested in X = x
Thus, the amount invested in Y = 25000-x
The interest incurred = 3518 Rs, thus the total amount at the end of the 2nd year = 28518 Rs.
Thus, x ∗ (1.06)2 + (25000 − x) ∗ (1.08)2 = 28518
x ∗ 1.1236 + 25000 ∗ 1.11664 − x ∗ 1.11664 = 28518
−0.0428x + 29160 = 28518
642 = 0.0428x
Hence, x = 15000 Rs.
Hence, option C is the correct answer.