A sum of money at 8% Simple Interest was placed in a deposit for 7 years. The matured the amount was then invested in a scheme offering 10% Compound Interest compounded annually,thereby procuring an interest of Rs.1638 in 2 years. What was the original sum?

A sum of money at 8% Simple Interest was placed in a deposit for 7 yea

1.	A sum of money at 8% Simple Interest was placed in a deposit for 7 years. The matured the amount was then invested in a scheme offering 10% Compound Interest compounded annually,thereby procuring an interest of Rs.1638 in 2 years. What was the original sum?
A.	Rs. 5000
B.	Rs. 8000
C.	Rs. 6200
D.	Rs. 7500
Answer» B. Rs. 8000

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A sum of money at 8% Simple Interest was placed in a deposit for 7 years. The matured the amount was then invested in a scheme offering 10% Compound Interest compounded annually,thereby procuring an interest of Rs.1638 in 2 years. What was the original sum?

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