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

    Question

    Rohit invested Rs. ‘x’ at the rate of 10% p.a. simple

    interest for 4 years and Anil invested Rs. 70% of x at 8% p.a. compounded annually for 2 years. If their total interest is Rs. 616, find the value of ‘x’.
    A 1250 Correct Answer Incorrect Answer
    B 1050 Correct Answer Incorrect Answer
    C 1180 Correct Answer Incorrect Answer
    D 1335 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,

    Anil's investment = Rs. 0.7x

    According to the question:

    (x × 10 × 4)/100 + [0.7x × 1.08 × 1.08 – 0.7x] = 616

    ⇒ 0.4x + 0.12192x = 616

    ⇒ 0.52192x = 616

    ⇒ x = 1180

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