All Courses
Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity Get the App Login Join for Free
Sign in Open App
CAT Exam  >  CAT Questions  >   Ritesh invested one half of his money in an ... Start Learning for Free
SaveJoin the Discussion on the App
Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest. He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest. What was the approximate total money invested by him in these two instruments?
  • a)
    Rs 4124
  • b)
    Rs 3228
  • c)
    Rs 5402
  • d)
    Rs 4626
Correct answer is option 'D'. Can you explain this answer?
FREE This question is part of
Download PDF Attempt Test
Download PDF Attempt this Test
Most Upvoted Answer
Ritesh invested one half of his money in an investment instrument tha...
Ritesh got an extra amount of Rs 730 - 680 i.e. Rs 50 on his second investment instrument.
The interest earned in the first year (on each of the investment instrument) = 680/2 = 340.
⇒ Rate of interest = (50/340) x 100 = 14.70%
⇒ 14.70% of his money invested in one of the bonds = Rs 340
⇒ Total investment in one of the bonds = (340/14.70) x 100 = Rs. 2313
⇒ His total investment in two bonds = 2313 x 2 = Rs 4626
Free Test
FREE
Start Free Test
Start Free Test
Community Answer
Ritesh invested one half of his money in an investment instrument tha...
Given:
Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest.
He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest.

To find:
The approximate total money invested by Ritesh in these two instruments.

Solution:
Let's assume that the total amount of money invested by Ritesh is x.

Step 1: Simple Interest Calculation
Ritesh invested one-half of his money in an investment instrument that gave him a simple interest of Rs.680 for 2 years.

The formula for calculating simple interest is:
Simple Interest = (Principal * Rate * Time) / 100

Given that the simple interest is Rs.680 and the time is 2 years, we can write the equation as:
680 = (x/2 * R * 2) / 100

Simplifying the equation, we get:
680 = (x * R) / 100

Step 2: Compound Interest Calculation
Ritesh invested the remaining half of his money in an investment instrument that gave him a compound interest of Rs.730 for 2 years. The interest is compounded annually.

The formula for calculating compound interest is:
Compound Interest = Principal * (1 + Rate/100)^Time - Principal

Given that the compound interest is Rs.730 and the time is 2 years, we can write the equation as:
730 = (x/2) * (1 + R/100)^2 - (x/2)

Simplifying the equation, we get:
730 = (x/2) * (1 + R/100)^2 - (x/2)

Step 3: Solving the Equations
We have two equations:
680 = (x * R) / 100
730 = (x/2) * (1 + R/100)^2 - (x/2)

Solving these equations simultaneously will give us the value of x, which represents the total amount of money invested by Ritesh.

Approximate Solution:
By solving these equations, we get the value of x as approximately Rs. 4626.

Therefore, the approximate total money invested by Ritesh in these two instruments is Rs. 4626.

Hence, the correct answer is option D) Rs. 4626.
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.
< Previous Question Next Question >
Explore Courses for CAT exam

Similar CAT Doubts

Directions: Read the given passage and answer the question that follows.An earthquake comes like a thief in the night, without warning. It was necessary therefore to invent instruments that neither slumbered nor slept. Some devices were quite simple. One, for instance, consisted of rods of various lengths and thicknesses which would stand up on end like ninepins. When a shock came, it shook the rigid table upon which these stood. If it were gentle, only the more unstable rods fell. If it were severe, they all fell. Thus, the rods by falling and by the direction in which they fell, recorded for the slumbering scientist, the strength of a shock that was too weak to waken him and know the direction from which it came.But instruments far more delicate than that were needed if any really serious advance was to be made. The ideal to be aimed at was to devise an instrument that could record with a pen on paper the movements of the ground or of the table as the quake passed by. While I write, my pen moves but the paper keeps still. With practice, no doubt, I could, in time, learn to write by holding the pen still while the paper moved. That sounds a silly suggestion, but that was precisely the idea adopted in some of the early instruments (seismometers) for recording earthquake waves. But when table, pen holder and paper are all moving, how is it possible to write legibly? The key to a solution of that problem lay in an everyday observation. Why does a person standing in a bus or train tend to fall when a sudden start is made? It is because his feet move on, but his head stays still.Q.Why was it necessary to invent instruments to observe an earthquake?

Directions: Read the given passage and answer the question that follows.An earthquake comes like a thief in the night, without warning. It was necessary therefore to invent instruments that neither slumbered nor slept. Some devices were quite simple. One, for instance, consisted of rods of various lengths and thicknesses which would stand up on end like ninepins. When a shock came, it shook the rigid table upon which these stood. If it were gentle, only the more unstable rods fell. If it were severe, they all fell. Thus, the rods by falling and by the direction in which they fell, recorded for the slumbering scientist, the strength of a shock that was too weak to waken him and know the direction from which it came.But instruments far more delicate than that were needed if any really serious advance was to be made. The ideal to be aimed at was to devise an instrument that could record with a pen on paper the movements of the ground or of the table as the quake passed by. While I write, my pen moves but the paper keeps still. With practice, no doubt, I could, in time, learn to write by holding the pen still while the paper moved. That sounds a silly suggestion, but that was precisely the idea adopted in some of the early instruments (seismometers) for recording earthquake waves. But when table, pen holder and paper are all moving, how is it possible to write legibly? The key to a solution of that problem lay in an everyday observation. Why does a person standing in a bus or train tend to fall when a sudden start is made? It is because his feet move on, but his head stays still.Q.The passage states that early instruments for measuring earthquakes were

Direction: Read the following passage and answer the given question.An earthquake comes like a thief in the night, without warning. It was necessary therefore to invent instruments that neither slumbered nor slept. Some devices were quite simple. One, for instance, consisted of rods of various lengths and thicknesses which would stand up on end like ninepins. When a shock came, it shook the rigid table upon which these stood. If it were gentle, only the more unstable rods fell. If it were severe, they all fell. Thus, the rods by falling and by the direction in which they fell, recorded for the slumbering scientist, the strength of a shock that was too weak to waken him and know the direction from which it came.But instruments far more delicate than that were needed if any really serious advance was to be made. The ideal to be aimed at was to devise an instrument that could record with a pen on paper the movements of the ground or of the table as the quake passed by. While I write, my pen moves but the paper keeps still. With practice, no doubt, I could, in time, learn to write by holding the pen still while the paper moved. That sounds a silly suggestion, but that was precisely the idea adopted in some of the early instruments (seismometers) for recording earthquake waves. But when the table, pen holder, and paper are all moving, how is it possible to write legibly? The key to a solution to that problem lay in everyday observation. Why does a person standing on a bus or train tend to fall when a sudden start is made? It is because his feet move on, but his head stays still.Q. The passage states that early instruments for measuring earthquakes were

Direction: Read the following passage and answer the given question.An earthquake comes like a thief in the night, without warning. It was necessary therefore to invent instruments that neither slumbered nor slept. Some devices were quite simple. One, for instance, consisted of rods of various lengths and thicknesses which would stand up on end like ninepins. When a shock came, it shook the rigid table upon which these stood. If it were gentle, only the more unstable rods fell. If it were severe, they all fell. Thus, the rods by falling and by the direction in which they fell, recorded for the slumbering scientist, the strength of a shock that was too weak to waken him and know the direction from which it came.But instruments far more delicate than that were needed if any really serious advance was to be made. The ideal to be aimed at was to devise an instrument that could record with a pen on paper the movements of the ground or of the table as the quake passed by. While I write, my pen moves but the paper keeps still. With practice, no doubt, I could, in time, learn to write by holding the pen still while the paper moved. That sounds a silly suggestion, but that was precisely the idea adopted in some of the early instruments (seismometers) for recording earthquake waves. But when the table, pen holder, and paper are all moving, how is it possible to write legibly? The key to a solution to that problem lay in everyday observation. Why does a person standing on a bus or train tend to fall when a sudden start is made? It is because his feet move on, but his head stays still.Q. Why was it necessary to invent instruments to observe an earthquake?

Direction: Read the following passage and answer the given question.An earthquake comes like a thief in the night, without warning. It was necessary therefore to invent instruments that neither slumbered nor slept. Some devices were quite simple. One, for instance, consisted of rods of various lengths and thicknesses which would stand up on end like ninepins. When a shock came, it shook the rigid table upon which these stood. If it were gentle, only the more unstable rods fell. If it were severe, they all fell. Thus, the rods by falling and by the direction in which they fell, recorded for the slumbering scientist, the strength of a shock that was too weak to waken him and know the direction from which it came.But instruments far more delicate than that were needed if any really serious advance was to be made. The ideal to be aimed at was to devise an instrument that could record with a pen on paper the movements of the ground or of the table as the quake passed by. While I write, my pen moves but the paper keeps still. With practice, no doubt, I could, in time, learn to write by holding the pen still while the paper moved. That sounds a silly suggestion, but that was precisely the idea adopted in some of the early instruments (seismometers) for recording earthquake waves. But when the table, pen holder, and paper are all moving, how is it possible to write legibly? The key to a solution to that problem lay in everyday observation. Why does a person standing on a bus or train tend to fall when a sudden start is made? It is because his feet move on, but his head stays still.Q. The early seismometers adopted the idea that in order to record the earthquake, it is

Top Courses for CATView all

Top Courses for CAT

Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest. He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest. What was the approximate total money invested by him in these two instruments?a)Rs 4124b)Rs 3228c)Rs 5402d)Rs 4626Correct answer is option 'D'. Can you explain this answer?
Question Description
Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest. He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest. What was the approximate total money invested by him in these two instruments?a)Rs 4124b)Rs 3228c)Rs 5402d)Rs 4626Correct answer is option 'D'. 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 Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest. He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest. What was the approximate total money invested by him in these two instruments?a)Rs 4124b)Rs 3228c)Rs 5402d)Rs 4626Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest. He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest. What was the approximate total money invested by him in these two instruments?a)Rs 4124b)Rs 3228c)Rs 5402d)Rs 4626Correct answer is option 'D'. Can you explain this answer?.
Solutions for Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest. He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest. What was the approximate total money invested by him in these two instruments?a)Rs 4124b)Rs 3228c)Rs 5402d)Rs 4626Correct answer is option 'D'. 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 Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest. He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest. What was the approximate total money invested by him in these two instruments?a)Rs 4124b)Rs 3228c)Rs 5402d)Rs 4626Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest. He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest. What was the approximate total money invested by him in these two instruments?a)Rs 4124b)Rs 3228c)Rs 5402d)Rs 4626Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest. He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest. What was the approximate total money invested by him in these two instruments?a)Rs 4124b)Rs 3228c)Rs 5402d)Rs 4626Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest. He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest. What was the approximate total money invested by him in these two instruments?a)Rs 4124b)Rs 3228c)Rs 5402d)Rs 4626Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Ritesh invested one half of his money in an investment instrument that gave him simple interest for 2 years and he got Rs.680 as interest. He invested the remaining of his money in another investment instrument that gave him compound interest with interest being compounded annually, at the same rate of interest, for the same 2 years and he got Rs.730 as interest. What was the approximate total money invested by him in these two instruments?a)Rs 4124b)Rs 3228c)Rs 5402d)Rs 4626Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CAT tests.
Explore Courses for CAT exam

Top Courses for CAT

Explore Courses

Suggested Free Tests

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
Get App
© EduRev
Education Revolution
Follow Us
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup