Quantitative Aptitude – Arithmetic – Percentages – Ravi invests 50% of his
Quantitative Aptitude – Arithmetic – Percentages
Question
Ravi invests 50% of his monthly savings in fixed deposits. Thirty percent of the rest of hi√√s savings is invested in stocks and the rest goes into Ravi’s savings bank account. If the total amount deposited by him in the bank (for savings account and fixed deposits) is Rs 59500, then Ravi’s total monthly savings (in Rs) is
Answer
70000
Solution
As per the question from CAT 2017 – Quantitative Aptitude – Arithmetic – Percentages, we can assume that,
Total amount of savings as ‘s’
Amount kept in FD = 0.5s
Savings left = 0.5s
Amount kept in stocks = (0.3) * (0.5) * s = 0.15s
Amount kept in Bank Account = (0.7) * (0.5) * s = 0.35s
Amount deposited in the bank = 0.5s + 0.35s = 0.85s = 59500. So, s = 70000.
Answer: 70000
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