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

    Question

    A man invested Rs. 'B' at simple interest of 18% and Rs.

    'B + 4000' at simple interest of 14% p.a., for 4 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.18,000 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

    Solution

    ATQ, Simple interest = Sum X rate of interest X time period of investment ÷ 100 ATQ; Or, 7.2B = (B+4000)×5.6 Or, 7.2B = 5.6B+22400 Or, 1.6B = 22400 Or, B = 14000 So, sum invested at lower interest = 14000 + 4000 = Rs. 18,000

    Practice Next

    Relevant for Exams: