New NABARD Grade A 2024 Results out!! Register here for a free live workshop on Feb 26, 2025 at 5 PM. Only on Zoom.

    Question

    A man invested certain sum at 5% p.a. simple interest

    for his son who was 13 years old. If the amount received by the son when he was 29 years old is Rs. 5760, then find the sum invested by the man.
    A Rs. 3000 Correct Answer Incorrect Answer
    B Rs. 3200 Correct Answer Incorrect Answer
    C Rs. 3600 Correct Answer Incorrect Answer
    D Rs. 3500 Correct Answer Incorrect Answer

    Solution

    Let the sum invested by the man be Rs. x Time for which the sum is invested = 29 – 13 = 16 years According to the question, {(x × 5 × 16)/100} + x = 5760 Or, 1.8x = 5760 Or, x = 3200 Therefore, the sum invested by the man = Rs. 3200

    Practice Next

    Relevant for Exams: