CAT 2022 Slot 3 QA Question & Solution
ArithmeticEasy
Question
Nitu has an initial capital of ₹20,000. Out of this, she invests ₹8,000 at 5.5% in bank A, ₹5,000 at 5.6% in bank B and the remaining amount at x% in bank C, each rate being simple interest per annum. Her combined annual interest income from these investments is equal to 5% of the initial capital. If she had invested her entire initial capital in bank C alone, then her annual interest income, in rupees, would have been
Options
700
800
900
1000
Solution
It is given,
$\ \frac{\ 5.5\times1\times8000}{100}+\ \frac{\ 5.6\times1\times5000}{100}+\ \frac{\ x\times1\times7000}{100}=\frac{5}{100}\times20000$
$440+280+70x=1000$
x = 4%
Interest = $\ \frac{\ 20000\times4\times1}{100}$ = Rs 800
The answer is option B.