CAT Exam  >  CAT Questions  >  A person invested a total amount of 15 lakh.... Start Learning for Free
A person invested a total amount of ₹ 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is ₹ 76000 then the amount (in ₹ lakh) invested in the fixed deposit was
(2019)
  • a)
    9
  • b)
    8
  • c)
    6
  • d)
    7
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
A person invested a total amount of 15 lakh. A part of it was investe...
Let the amount invested in fixed deposit be x lakhs.
According to the question,



Hence the amount (in lakh) invested in fixed deposite = 9.
View all questions of this test
Most Upvoted Answer
A person invested a total amount of 15 lakh. A part of it was investe...
Let's assume that the amount invested in the fixed deposit is x lakh.

Given:
Total investment amount = 15 lakh
Amount invested in fixed deposit = x lakh
Amount invested in other deposits = (15 - x) lakh

Now, let's calculate the interest earned from each investment:

Interest earned from the fixed deposit = (x * 6%) = 0.06x lakh

Interest earned from the first other deposit = ((15 - x) * 2/3 * 4%) = (2/75)(15 - x) lakh
(Note: The ratio of 2:1 means that out of the remaining amount, 2/3 is invested in the first other deposit.)

Interest earned from the second other deposit = ((15 - x) * 1/3 * 3%) = (1/50)(15 - x) lakh
(Note: The ratio of 2:1 means that out of the remaining amount, 1/3 is invested in the second other deposit.)

Total interest earned = Interest earned from fixed deposit + Interest earned from the first other deposit + Interest earned from the second other deposit
76000 = 0.06x + (2/75)(15 - x) + (1/50)(15 - x)

Simplifying the equation:
76000 = 0.06x + (30/75) - (2x/75) + (15 - x)/50
76000 = 0.06x + 2/5 - 2x/75 + 3(15 - x)/150
Multiplying through by 150 to remove the fractions:
76000 * 150 = 9x + 60 - 2x + 3(15 - x)
11400000 = 9x + 60 - 2x + 45 - 3x
11400000 = 4x + 105
4x = 11400000 - 105
4x = 11399895
x = 11399895/4
x = 2849973.75
x ≈ 28.5 lakh

Therefore, the amount invested in the fixed deposit is approximately 28.5 lakh, which is closest to option A, i.e., 9 lakh.
Attention CAT Students!
To make sure you are not studying endlessly, EduRev has designed CAT study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CAT.
Explore Courses for CAT exam
A person invested a total amount of 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer?
Question Description
A person invested a total amount of 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about A person invested a total amount of 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person invested a total amount of 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer?.
Solutions for A person invested a total amount of 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CAT. Download more important topics, notes, lectures and mock test series for CAT Exam by signing up for free.
Here you can find the meaning of A person invested a total amount of 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of A person invested a total amount of 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer?, a detailed solution for A person invested a total amount of 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of A person invested a total amount of 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice A person invested a total amount of 15 lakh. A part of it was invested in a fixed deposit earning 6% annual interest, and the remaining amount was invested in two other deposits in the ratio 2 : 1, earning annual interest at the rates of 4% and 3%, respectively. If the total annual interest income is 76000 then the amount (in lakh) invested in the fixed deposit was(2019)a)9b)8c)6d)7Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CAT tests.
Explore Courses for CAT exam

Top Courses for CAT

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev