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

    Question

    A person deposits Rs. ‘x’ in savings scheme A and Rs.

    ‘x/2’ in scheme B. The interest rates are 7% p.a. and 6% p.a. respectively. If after 3 years the total simple interest is Rs. 693, determine the value of ‘x’.
    A Rs.2310 Correct Answer Incorrect Answer
    B Rs.2900 Correct Answer Incorrect Answer
    C Rs.2800 Correct Answer Incorrect Answer
    D Rs.2500 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,

    x × 0.07 × 3 + x/2 × 0.06 × 3 = 693

    0.21x + 0.09x = 693

    0.30x = 693

    x = 693 / 0.30 = 2310

    So, the value of ‘x’ is Rs. 2310

    Practice Next

    Relevant for Exams: