Question

7. Abhishek invested some amount for 3 yrs at rate of 16(2/3)% per annum at Cl. The difference of CI obtained
only on 3rd year and C.I. obtained only on second year is Rs 210. Find the amount invested by Abhishek?
1. Rs 6,220
2. Rs 6,480
3. Rs 8,420 4. Rs 7,420
5. Rs 8,240​

Answer 1

Solution :-

Let us assume that, the amount invested by Abhishek is Rsx.

we know that, when rate of interest is compounded annually ,

• A = P[1 + (R/100)]^T

given that,

• Rate = 16(2/3)% = (50/3)% = (1/6)

so,

→ Amount after 1 year = x * (1 + 1/6) = Rs.(7x/6)

then,

→ CI of second year only = (1/6) of Amount after 1 year = (1/6) * (7x/6) = Rs.(7x/36)

now,

→ Amount after 2 years = Amount after 1 year + CI of second year = (7x/6) + (7x/36) = (49x/36) .

then,

→ CI obtained only on 3rd year = (1/6) of Amount after 2 years = (1/6) * (49x/36) = Rs.(49x/216) .

A/q,

→ (49x/216) - (7x/36) = 210

→ (49x - 42x)/216 = 210

→ 7x / 216 = 210

→ x = 216 * 30

→ x = Rs.6480 (Ans.2)

Learn more :-

CI in 2yr is Rs. 1600 and in 3 yrs it will be Rs. 1700. Find the rate of interest.

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