A certain bank offers 7% rate of interest on the 1st year and 8% on the 2nd year in a certain fixed deposit scheme
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: