Banking Exams Exam > Banking Exams Questions > Reet invested an amount of Rs A for 2 years ...
Start Learning for Free
Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.
- a)Rs 20000
- b)Rs 25000
- c)Rs 30000
- d)Rs 27500
- e)Rs 37500
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Reet invested an amount of Rs A for 2 years at 12% compound interest ...
Solution:
Let the amount invested by Reet be Rs A.
According to the question,
Reet's investment = Rs A
Rate of interest = 12%
Time period = 2 years
Simple Interest earned by Sonali = Compound Interest earned by Reet
Amount invested by Sonali = Rs (A + 1500)
Rate of interest = 8%
Time period = 3 years
Now, we will calculate the compound interest earned by Reet.
Compound Interest = P[(1 + R/100)^n - 1]
Where,
P = Principle amount
R = Rate of interest
n = Time period
Compound Interest = A[(1 + 12/100)^2 - 1]
Compound Interest = A[(28/25) - 1]
Compound Interest = A[3/25]
Compound Interest = 3A/25
Now, we will calculate the simple interest earned by Sonali.
Simple Interest = (P x R x T)/100
Where,
P = Principle amount
R = Rate of interest
T = Time period
Simple Interest = (A + 1500) x 8 x 3/100
Simple Interest = (24A + 36000)/100
Simple Interest = 6A/25 + 1440
According to the question,
Compound Interest earned by Reet = Simple Interest earned by Sonali
3A/25 = 6A/25 + 1440
3A/25 - 6A/25 = 1440
-3A/25 = 1440
A = -1440 x 25/3
A = -12000
Since the amount invested cannot be negative, we will reject this value of A.
So, the correct value of A will be the one which satisfies all the given conditions.
Let us assume that A = Rs 25000.
Compound Interest earned by Reet = 3A/25
Compound Interest earned by Reet = 3 x 25000/25
Compound Interest earned by Reet = Rs 3000
Simple Interest earned by Sonali = 6A/25 + 1440
Simple Interest earned by Sonali = 6 x 25000/25 + 1440
Simple Interest earned by Sonali = Rs 3600
Since both the interests are equal, the amount invested by Reet is Rs 25000, which is given in option B.
Let the amount invested by Reet be Rs A.
According to the question,
Reet's investment = Rs A
Rate of interest = 12%
Time period = 2 years
Simple Interest earned by Sonali = Compound Interest earned by Reet
Amount invested by Sonali = Rs (A + 1500)
Rate of interest = 8%
Time period = 3 years
Now, we will calculate the compound interest earned by Reet.
Compound Interest = P[(1 + R/100)^n - 1]
Where,
P = Principle amount
R = Rate of interest
n = Time period
Compound Interest = A[(1 + 12/100)^2 - 1]
Compound Interest = A[(28/25) - 1]
Compound Interest = A[3/25]
Compound Interest = 3A/25
Now, we will calculate the simple interest earned by Sonali.
Simple Interest = (P x R x T)/100
Where,
P = Principle amount
R = Rate of interest
T = Time period
Simple Interest = (A + 1500) x 8 x 3/100
Simple Interest = (24A + 36000)/100
Simple Interest = 6A/25 + 1440
According to the question,
Compound Interest earned by Reet = Simple Interest earned by Sonali
3A/25 = 6A/25 + 1440
3A/25 - 6A/25 = 1440
-3A/25 = 1440
A = -1440 x 25/3
A = -12000
Since the amount invested cannot be negative, we will reject this value of A.
So, the correct value of A will be the one which satisfies all the given conditions.
Let us assume that A = Rs 25000.
Compound Interest earned by Reet = 3A/25
Compound Interest earned by Reet = 3 x 25000/25
Compound Interest earned by Reet = Rs 3000
Simple Interest earned by Sonali = 6A/25 + 1440
Simple Interest earned by Sonali = 6 x 25000/25 + 1440
Simple Interest earned by Sonali = Rs 3600
Since both the interests are equal, the amount invested by Reet is Rs 25000, which is given in option B.
Free Test
FREE
| Start Free Test |
Community Answer
Reet invested an amount of Rs A for 2 years at 12% compound interest ...
According to the question,
144A = 3600000
A = 25000
Amount invested by Reet = Rs 25000
Hence, the correct option is (B).
|
Explore Courses for Banking Exams exam
|
|
Similar Banking Exams Doubts
Top Courses for Banking ExamsView all
Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer?
Question Description
Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer?.
Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer?.
Solutions for Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Banking Exams.
Download more important topics, notes, lectures and mock test series for Banking Exams Exam by signing up for free.
Here you can find the meaning of Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Reet invested an amount of Rs A for 2 years at 12% compound interest and received some amount of interest. Sonali invested Rs (A + 1500) for 3 years at 8% simple interest and received same amount of interest as Reet received. Find the amount that is invested by Reet.a)Rs 20000b)Rs 25000c)Rs 30000d)Rs 27500e)Rs 37500Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Banking Exams tests.
|
|
Explore Courses for Banking Exams exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup