Aptitude Day 202

Answers of Day 201:  1. 30,000.

                                     2. 20,000. 

Problems on Simple Interest:

1. The price of a T.V. set worth 20,000 is to be paid in 20 instalments of 1000 each. If the rate of interest is 6% p.a. and the first instalment is paid at the time of purchase, then the value of the last instalment covering the interest as well will be:

Solution:

                 Balance amount to be paid = 20000-1000

                                                             = 19000.

2. Amy invested a certain amount in 3 different schemes A, B and C with the rate of interest 3% p.a., 5% p.a.  and 10% p.a. respectively. If the total interest accrued in a year was 1500 and the amount invested in scheme C was 5% of the amount invested in scheme B and 20% of the amount invested in scheme A, what was the amount invested in scheme B?

Solution:

                  x*3*1/100 + y*5*1/100 + z*10*1/100 = 1500

                  3x+5y+10z = 150000

                  z = 5y/100 = y/20

                  z = 20x/100 =x/5

                  x = 5z

                  y = 20z

                  z = z

                  3(5z)+5(20z)+10z = 150000

                  z = 1200.

                 The amount invested in scheme B was y = 20(z) = 24000.