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

    Question

    A man invested Rs. 'C' at simple interest of 20% and Rs.

    'C + 2000' at simple interest of 16% p.a., for 3 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.10,000 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, 6C=(C+2000)×4.8 Or, 6C=4.8C+9600 Or, 1.2C=9600 Or, C=8000 So, sum invested at lower interest = 8000 + 2000 = Rs. 10,000

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