Q16 A person invested a part of a sum of Rs. 16.050 in a scheme k which offers simple interest at 12% pa for four years and the remaining part in a scheme which offers compound interest at 15%p.a compounded annually for two years. If the interest received from the two schemes at the end of their respective time periods are equal, then find the sum invested in scheme K
a) Rs. 6,450
b) Rs.6,650
C) Rs.6,850
d) Rs.7,150
e) Rs . 7,350
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sum mentioned will be 16050 Rs not 16.050
the amount will be 6450Rs
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