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Banking Sample Paper IBPS PO (Main) Sample Test Paper-3

  • question_answer
    A person invested Rs. P on simple interest at the rate of 12% for 4 years, and he invested Rs. (P + 200) at 10% compound interest for 2 years. The total interest obtained is Rs. 4320. Find the total amount (in Rs.) invested by the person.

    A)  Rs. 11520                    

    B)  Rs. 10102        

    C)    Rs. 13216        

    D)    Rs. 12600      

    E)  None of these

    Correct Answer: D

    Solution :

    \[\frac{P\times 12\times 4}{100}+(P+200)\left[ {{\left( 1'+\frac{10}{100} \right)}^{2}}-1 \right]=4320\] or, \[\frac{12P}{25}+(P+200)\left[ \frac{121}{100}-1 \right]=4320\] or, \[\frac{12P}{25}+(P+200)\times \frac{21}{100}=4320\] or, \[\frac{48P+(P+200)21}{100}=4320\] or, \[69P+4200=432000\] or, \[69P=427800\] or, \[P=Rs.\,6200\] \[\therefore \] \[P+200=Rs.\,6400\] \[\therefore \]Total investment = 6200 + 6400 = Rs. 12600


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