New 55% Off on All Courses - Enroll Now! Click Here

    Question

    "R" put Rs.(r + 5000) into a SIP that offered 12% annual

    simple interest for four years. He also made a three-year investment of Rs. (r - 5000) in the same SIP. If the interest received from the two investments differs by Rs. (0.4r). Find out what 'r' is worth.
    A 25000 Correct Answer Incorrect Answer
    B 15000 Correct Answer Incorrect Answer
    C 22520 Correct Answer Incorrect Answer
    D 11562 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, Simple interest = (Sum × rate of interest × time period in years) ÷ 100 So, interest earned from first investment = (r + 5000) × 12 × 4 ÷ 100 = Rs. (r + 5000) × (12/25) And, interest earned from second investment = (r - 5000) × 12 × 3 ÷ 100 = (r - 5000) × (9/25) So, (r + 5000) × (12/25) - (r - 5000) × (9/25) = 0.4r Or, 12 × (r + 5000) - 9 × (r - 5000) = 10r Or, 12r + 60000 - 9r + 45000 = 10r Or, 105000 = 7r So, r = 15000

    Practice Next

    Relevant for Exams: