📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      'P' allocated different portions of his savings,

      totaling Rs. 100,000, to three banks. The first portion was invested in Axis Bank at a simple interest rate of 8% per annum, the second portion in State Bank at a simple interest rate of 12% per annum, and the remaining portion in PNB Bank at a compound interest rate of 10% per annum, compounded annually. After 2 years, the interests earned from Axis, State, and PNB banks are in the ratio 16:16:35. Determine the amount invested by 'P' in PNB Bank.
      A Rs.33000 Correct Answer Incorrect Answer
      B Rs.62000 Correct Answer Incorrect Answer
      C Rs.50000 Correct Answer Incorrect Answer
      D Rs.45000 Correct Answer Incorrect Answer
      E none of these Correct Answer Incorrect Answer

      Solution

      ATQ, Let, the amount invested by "P"in banks ‘Axis’, ‘State’ and ‘Pnb’ be Rs.'a', Rs.'s' and Rs.'p' respectively. Now, (a × 8 × 2/100):(s × 12 × 2/100):{p(11/10)2- p} = 16:16:35 Or, 16a:24s:21p = 16:16:35 Or, a:s:p = 3:2:5 Amount invested by him in PNB bank  = (5/10) × 100000 = Rs.50000

      Practice Next
      More Simple and compound interest Questions

      Relevant for Exams:

      ask-question