New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A man invested certain sum at 6.5% p.a. simple interest

    for his son who was 12 years old. If the amount received by the son when he was 24 years old is Rs. 4272, then find the sum invested by the man.
    A Rs. 2000 Correct Answer Incorrect Answer
    B Rs. 2500 Correct Answer Incorrect Answer
    C Rs. 2400 Correct Answer Incorrect Answer
    D Rs. 2600 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the sum invested by the man be Rs. x Time for which the sum is invested = 24 – 12 = 12 years According to the question, {(x × 6.5 × 12)/100} + x = 4272 Or, 1.78x = 4272 Or, x = 2400 Therefore, the sum invested by the man = Rs. 2400

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