Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The rate of interest for the first 3 years is 5% p.a. for the next 5 years is 6% p.a., and for the period beyond 8 years is 12.5% p.a., if a person gets Rs. 13545 as simple interest after 10 years, then how much money did he invest?

Options:

19350

19530

91350

19035

Correct Answer:

19350

Explanation:

Interest for first 3 years = 15% (3 × 5)

Interest for nexct 5 years = 30% (5 ×6)

Interest for last 2 years = 25% (2 × 12.5)

                 Total interest = 70%

                                 70% = 13545

                                   1% = 193.5

                                 100% = Rs. 19350