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

    Question

    A man invested Rs. 'A' at simple interest of 10% and Rs.

    'A + 3000' at simple interest of 8% p.a., for 6 years each. If the interest earned from both investments is the same, then find the sum invested at the lower rate of interest.
    A Rs.10,000 Correct Answer Incorrect Answer
    B Rs.15,500 Correct Answer Incorrect Answer
    C Rs.12,000 Correct Answer Incorrect Answer
    D Rs.15,000 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ, Simple interest = Sum X rate of interest X time period of investment ÷ 100 ATQ; Or, 6A = (A+3000)×4.8 Or, 6A = 4.8A+14400 Or, 1.2A = 14400 Or, A = 12000 So, sum invested at lower interest = 12000 + 3000 = Rs. 15,000

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