Question : An investor invested his savings in the stock market. The value of his investments increased by 12% and 9% in the first year and the second year, respectively. If the value of his investments after two years was Rs. 97,664, then how much had he invested (in Rs.)?
Option 1: 81,000
Option 2: 75,000
Option 3: 80,000
Option 4: 72,000
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Correct Answer: 80,000
Solution :
Let the amount invested by the investor be Rs. $x$.
Given: The value of his investments increased by 12% and 9% in the first year and the second year, respectively.
P becomes P(1 + $\frac{R_1}{100}$)(1 + $\frac{R_2}{100}$) after 2 years where R
1
and R
2
are two successive percentage increase$⇒(1+\frac{9}{100})(1+\frac{12}{100})x = 97664$
$⇒1.2208x = 97664$
$⇒x = \frac{97664}{1.2208} = Rs.\; 80,000$
Hence, the correct answer is 80,000.
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