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A person invested Rs. 8800 at 10% rate of simple interest per annum in bank A for x years and Rs. 8200 at 20% rate of simple interest per annum in bank B for 3 years less than the time for which he invested in bank A and receives equal interest from both the banks. Find the approximate time for which he invested the amount in bank A.
  • a)
    6 years
  • b)
    7 years
  • c)
    5.5 years
  • d)
    7.5 years
  • e)
    6.5 years
Correct answer is option 'E'. Can you explain this answer?
Most Upvoted Answer
A person invested Rs. 8800 at 10% rate of simple interest per annum i...
Let the person invest in bank A for x years and in bank B for (x – 3) years
S.I. = PRT/100
According to the question:
(8800 × 10 × x)/100 = (8200 × 20 × (x - 3))/100
? 88x = 164x – 492
? 164x – 88x = 492
? 76x = 492
? x = 6.47
? The person invested for approximately 6.5 years in bank A.
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A person invested Rs. 8800 at 10% rate of simple interest per annum in bank A for x years and Rs. 8200 at 20% rate of simple interest per annum in bank B for 3 years less than the time for which he invested in bank A and receives equal interest from both the banks. Find the approximate time for which he invested the amount in bank A.a)6 yearsb)7 yearsc)5.5 yearsd)7.5 yearse)6.5 yearsCorrect answer is option 'E'. Can you explain this answer?
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A person invested Rs. 8800 at 10% rate of simple interest per annum in bank A for x years and Rs. 8200 at 20% rate of simple interest per annum in bank B for 3 years less than the time for which he invested in bank A and receives equal interest from both the banks. Find the approximate time for which he invested the amount in bank A.a)6 yearsb)7 yearsc)5.5 yearsd)7.5 yearse)6.5 yearsCorrect answer is option 'E'. 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 A person invested Rs. 8800 at 10% rate of simple interest per annum in bank A for x years and Rs. 8200 at 20% rate of simple interest per annum in bank B for 3 years less than the time for which he invested in bank A and receives equal interest from both the banks. Find the approximate time for which he invested the amount in bank A.a)6 yearsb)7 yearsc)5.5 yearsd)7.5 yearse)6.5 yearsCorrect answer is option 'E'. 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 A person invested Rs. 8800 at 10% rate of simple interest per annum in bank A for x years and Rs. 8200 at 20% rate of simple interest per annum in bank B for 3 years less than the time for which he invested in bank A and receives equal interest from both the banks. Find the approximate time for which he invested the amount in bank A.a)6 yearsb)7 yearsc)5.5 yearsd)7.5 yearse)6.5 yearsCorrect answer is option 'E'. Can you explain this answer?.
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