6 Views

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


Team Careers360 7th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

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.

SSC CGL Complete Guide

Candidates can download this ebook to know all about SSC CGL.

Download EBook

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books