Bodhee Prep-CAT Online Preparation

CAT 2019 Quant Question with Solution 68

Question:
Amal invests Rs 12000 at 8% interest, compounded annually, and Rs 10000 at 6% interest, compounded semi-annually, both investments being for one year. Bimal invests his money at 7.5% simple interest for one year. If Amal and Bimal get the same amount of interest, then the amount, in Rupees, invested by Bimal is

Show Answer

Correct Answer: 20920

Let the amount invested by Bimal be Rs. P

Given, the interest incomes for both are equal. Therefore,

$\left[ 12000\left( 1+\frac{8}{100} \right)-12000 \right]+\left[ 10000{{\left( 1+\frac{3}{100} \right)}^{2}}-10000 \right]=\frac{P\times 7.5\times 1}{100}$

Solving for P we get P =Rs. 20920


CAT Online Course
Also Check: 841+ CAT Quant Questions with Solutions

CAT 2019 Slot-1


CAT 2019 Slot-2

CAT 2023
Classroom Course

We are starting classroom course for CAT 2023 in Gurugram from the month of December.
Please fill the form to book your seat for FREE Demo Classes

CAT 2023 Classroom Course starts in Gurgaon