New RBI Grade B 2025 Notification will come Soon! Enroll Here

    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

    Relevant for Exams: