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, alongwith 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 questions that follow.
Person-wise Details of Money Invested
Person | Rate of Interest (%) | Time (in years) | Principal (in ₹) | Amount Received (in ₹) |
A | 6% | - | 10000 | - |
B | 6% | - | 30000 | - |
C | - | 5 | - | 25000 |
D | - | 3 | 45000 | - |
E | 8% | - | 20000 | - |
F | - | 2 | 60000 | - |
Note: Calculate simple Interest unless specified.
If the difference between the interest received by E and B is ₹ 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.
₹ 30,000
- B.
₹ 28,600
- C.
₹ 29,600
- D.
₹ 35,400
Show answer & explanation
Correct answer: C
Let time for B be t years, so E's time is 2t. Simple Interest for B is (30000 * 6 * t)/100 = 1800t. Simple Interest for E is (20000 * 8 * 2t)/100 = 3200t. The difference is 3200t - 1800t = 4200, giving 1400t = 4200 or t = 3. E's time is 6 years, so SI is 9600. Amount received by E is 20000 + 9600 = 29600.