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Question 32 : 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 [TITA]


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Explanatory Answer

The amount on the first investment of Anmol = 12,000 * (1.08) = 12,960
So the Interest on this investment is 12,960 - 12,000 = 960.

The amount on the second investment of Anmol = 10,000 * (1.03)2 = 10,609
So the Interest on this investment is 10,609 - 10,000 = 609.

So the total interest on these returns = 960 + 609 = 1,569.

Bimal has to get this as Simple Interst by investing X rupees at 7.5%
That means, X * 0.075 = 1,569
X = 20,920

So, Bimal has to invest 20,920 rupees.


The question is "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 [TITA]"

Hence, the answer is 20920

 

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