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 Rs.). 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 questions that follow.
Note: Calculate simple Interest unless specified.
Person-wise Details of Money Invested
Person | Rate of Interest (%) | Time (in years) | Principal (in Rs.) | Amount Received (in Rs.) |
A | 6% | - | 18000 | - |
B | 6% | - | 30000 | - |
C | - | 5 | - | 29000 |
D | - | 3 | 45000 | - |
E | 8% | - | 20000 | - |
F | - | 2 | 60000 | - |
Sub-Question:
If the difference between the interest received by E and B is Rs. 4200 and E invested his money for double the time period for which B invested his money, then the amount received by E is:
- A.
Rs. 30,000
- B.
Rs. 28,600
- C.
Rs. 29,600
- D.
Rs. 35,400
Attempted by 3 students.
Show answer & explanation
Correct answer: C
Let the time period for person B be t years. Then, the time period for person E is 2t years.
Interest for B = (30000 * 6 * t) / 100 = 1800t.
Interest for E = (20000 * 8 * 2t) / 100 = 3200t.
Given difference in interest is Rs. 4200: 3200t - 1800t = 4200 => 1400t = 4200 => t = 3 years.
Interest for E = 3200 * 3 = Rs. 9600.
Total amount received by E = Principal + Interest = 20000 + 9600 = Rs. 29600.