Quantitative Aptitude – Interest – Amal invests Rs 12000 at 8% interest
Slot – 2 – Quantitative Aptitude – Interest – Amal invests Rs 12000 at 8% interest
Amal invests Rs 12000 at 8% interest – Video Solution
Q. Amal invests Rs 12000 at 8% interest, compounded annually, and Rs 10000 at 6% interest, compounded semi-annually, both investments being for one year. Bimal invests his money at 7.5% simple interest for one year. If Amal and Bimal get the same amount of interest, then the amount, in Rupees, invested by Bimal is? Answer: 20920
Solution:
Total amount invested by Amal = 12000(1+0.08) + 10000(1+0.06/2)^2 = 12960+ 10609 = 23569
Bimal invests p amount at si
So, interest for bimal = p*7.5*1/100
Interest are same for a and b, so we get
23569-22000 = p*7.5*1/100
So, p = 20920
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