CAT 2017 Question Paper | Quants Slot 1

CAT exam has historically tested percentages in every edition of the exam. With every passing year, CAT exam has increased the importance of Arithmetic questions from topics such as Percentages. 2IIM CAT question bank provides you with CAT questions that can help you gear for CAT Exam. This question is a question that tests our understanding on the topic percentages.

Question 5 : Ravi invests 50% of his monthly savings in fixed deposits. Thirty percent of the rest of his savings is invested in stocks and the rest goes into Ravi's savings bank account. If the total amount deposited by him in the bank (for savings account and fixed deposits) is Rs 59500, then Ravi's total monthly savings (in Rs) is: [TITA]

Video Explanation

Explanatory Answer

Method of solving this CAT Question from Percentages

Ravi invests 50% of his monthly savings in fixed deposits i.e from the remaining 50%, 30% percent of the rest of his savings = 15% is invested in stocks.
And the rest i.e 50 – 15 = 35% goes into Ravi's savings bank account.
If the total amount deposited by him in the bank (for savings account and fixed deposits) is Rs 59500
i.e. 50 + 35 = 85 % ⟹ 85% of total savings = 59500
We have to find the Ravi's total monthly savings (in Rs)
⟹ Total savings = \\frac{59500}{85}) × 100 = Rs.70000
Ravi's total monthly savings is 70000 Rupees.

The question is "Ravi invests 50% of his monthly savings in fixed deposits. Thirty percent of the rest of his savings is invested in stocks and the rest goes into Ravi's savings bank account. If the total amount deposited by him in the bank (for savings account and fixed deposits) is Rs 59500, then Ravi's total monthly savings (in Rs) is: [TITA]"

Hence, the answer is 70000