Question : A person invested a sum of INR 10,500 at $x$% per annum at simple interest and a sum of INR 13,500 at $(x + 2)$% p.a. at simple interest. If the total interest earned on both investments for 3 years is INR 7,650, then the rate of interest on the first investment is:
Option 1: 8%
Option 2: 8.5%
Option 3: 9%
Option 4: 9.5%
Correct Answer: 9.5%
Solution : Given: 1st principal = INR 10,500 Rate of interest = $x$% 2nd principal = INR 13,500 Rate of interest = $(x + 2)$% Time = 3 years The total simple interest = INR 7,650 We know that, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ ⇒ $7650 = \frac{10500\times x\times3}{100}+ \frac{13500\times (x+2)\times3}{100}$ ⇒ $7650 = 315x+ 405x+810$ ⇒ $6840 = 720x$ ⇒ $x=\frac{6840}{720}= 9.5$ Hence, the correct answer is 9.5%.
Result | Eligibility | Application | Selection Process | Cutoff | Admit Card | Preparation Tips
Question : A person invested a sum of INR 18,600 at $x$% p.a. and another sum that is twice the former at ($x$ + 2)% p.a., both at simple interest. If the total interest earned on both investments for $3 \frac{1}{2}$ years is INR 23,110.50, then the rate of interest p.a. on the second
Question : Sudeep invested $\frac{1}{8}$th of a certain sum at 5% p.a. for two years and $\frac{3}{5}$th of the sum at 6% p.a. for two years and the remaining at 10% p.a. for two years. If the total interest received is INR 1,674, then the total sum invested is:
Question : A certain sum (in INR) is invested at simple interest at y% per annum for $3 \frac{1}{2}$ years. Had it been invested at (y + 4)% per annum at simple interest, it would have fetched INR 4,452 more as interest. What is the sum?
Question : Peter invested a certain sum of money in a scheme paying 10% simple interest per annum, while Rachel invested half of the sum that Peter invested in a scheme paying 10% interest per annum compounded annually. Also, while Peter invested for 2 years, Rachel invested for 3 years.
Question : Rajesh invested INR 10,000 by dividing it into two different investment schemes, A and B, at simple interest rates of 8% and 10%, respectively. If the total interest earned in 2 years is INR 1,680, the amount invested in scheme A is:
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile