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Q 2286478377.     A company offers four schemes for investors to invest. The schemes are as follows.
Scheme 1: Gives a return of 8% p. a. interest being compounded annually
Scheme 2: Gives a return of 15% p. a. simple interest compounded semi - annually
Scheme 3: Gives a return of 10% p. a. Compound interest being compounded semi-annually
Scheme 4: Gives a return of 20% p. a. S.I. compounded annually but 10% of the amount at the end of each year is paid as administrative charges and only the remaining 90% is reinvested.
If a person decides to invest an amount of 20000 equally in scheme 2 and scheme 3, then after 2 years what will be the difference of his interest from scheme 3 and scheme 2?
IBPS-PO 2017 Mock Mains
(Provided By a Student and Checked/Corrected by EXXAMM.com Team)