Quantitative Aptitude – Interest – A person invested a certain amount of money
Slot – 3 – Quantitative Aptitude – Interest – A person invested a certain amount of money
Q. A person invested a certain amount of money at 10% annual
interest, compounded half-yearly. After one and a half years, the
interest and principal together became Rs 18522. The amount, in
rupees, that the person had invested is? Answer: 16000
Solutions:
Let the invested amount = P
So 18522 = P (1+10/200)^3
18522 = P*1.05^3
P = 18522/1.05^3
P = 16000
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