New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    In this problem, you are provided with two quantities,

    Quantity A and Quantity B.Evaluate both quantities and establish the correct relationship between them. Quantity A: Lisa invested 40% of her savings of Rs. 10,000 at a simple interest rate of 12% per year and the remainder at a simple interest rate of 18% per year. Calculate the total interest she earned after 3 years. Quantity B: Determine the interest accrued when David invests Rs. 3,600 at a simple interest rate of 15% per year for 104 months. Now, you should compare Quantity A and Quantity B to determine their relationship.
    A Quantity-I > Quantity-II Correct Answer Incorrect Answer
    B Quantity-I < Quantity-II Correct Answer Incorrect Answer
    C Quantity-I ≤ Quantity-II Correct Answer Incorrect Answer
    D Quantity-I = Quantity-II or No relation Correct Answer Incorrect Answer

    Solution

    ATQ, Quantity I: Required interest earned = (0.40 × 10000 × 0.12 × 3) + (0.60 × 10000 × 0.18 × 3) = Rs. 4,680 So, Quantity I = Rs. 4,680 Quantity II: Required simple interest = 3600 × 0.15 × (104/12) = Rs. 4,680 So, Quantity II = Rs. 4,680 Therefore, Quantity-I = Quantity-II or No relation

    Practice Next