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CAT 2020 Quant Question [Slot 3] with Solution 12

Question

A person invested a certain amount of money at 10% annual interest, compounded half-yearly. After one and a half years, the interest and principal together became Rs 18522. The amount, in rupees, that the person had invested is

Option: 16000
Solution:

Let the sum be P.

Given, \(P \times {\left( {1 + \frac{{10}}{{200}}} \right)^3} = 18522\)

\( \Rightarrow P = 18522 \times {\left( {\frac{{20}}{{21}}} \right)^3} = 16000\)

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