![A certain bank offers 7% rate of interest on the 1st year and 8% on the 2nd year in a certain fixed deposit scheme](https://www.gkseries.com/blog/wp-content/uploads/2024/04/A-certain-bank-offers-7-rate-of-interest-on-the-1st-year-and-8-on-the-2nd-year-in-a-certain-fixed-deposit-scheme.jpg)
A certain bank offers 7% rate of interest on the 1st year and 8% on the 2nd year in a certain fixed deposit scheme (compounded annua). If 17,334are received after investing for 2 years in this scheme, then what was the amount invested?
(a) 15500
(b) 16000
(c) 15000
(d) 16500
Sol:
![](https://www.gkseries.com/blog/wp-content/uploads/2024/04/image-246-1024x593.png)
![](https://www.gkseries.com/blog/wp-content/uploads/2024/04/image-247-1024x385.png)