The following table shows the details about money invested (principal) in a…
2023
The following table shows the details about money invested (principal) in a bank at a certain rate of interest for a given period of time by six different male persons A-F, along with the amount received (in ₹). Some values are missing in the table (indicated as ‘_’) that you are expected to calculate if required. Based on the data in the table, answer the question that follows.
Note: Calculate simple Interest unless specified.
Person-wise Details of Money Invested
Person | Rate of Interest (%) | Time (in years) | Principal (in ₹) | Amount Received (in ₹) |
A | 6% | - | 18000 | - |
B | 6% | - | 30000 | - |
C | - | 5 | - | 29000 |
D | - | 3 | 45000 | - |
E | 8% | - | 20000 | - |
F | - | 2 | 60000 | - |
Sub-Question:
If the rate of interest received by A and C is in the ratio of 2:3, then the money invested by C will get doubled in ________ years.
- A.
12 ¹/₇
- B.
15 ½
- C.
13 ⅓
- D.
11 ¹/₉
Attempted by 2 students.
Show answer & explanation
Correct answer: D
First, identify the rate of interest for person A from the table, which is 6%.
Given the ratio of rates between A and C is 2:3, calculate person C's rate: Rate_C = (6% × 3) / 2 = 9%.
To find the time required to double the principal amount using simple interest, use the formula Time = 100 / Rate.
Substituting C's rate: Time = 100 / 9 years, which equals 11 ¹/₉ years.