in Quantitative Aptitude recategorized by
1,267 views
2 votes
2 votes

A man invests Rs. $3000$ at a rate of $5$% per annum. How much more should he invest at a rate of $8$%, so that he can earn a total of 6% per annum?

  1. Rs. 1200
  2. Rs. 1300
  3. Rs. 1500
  4. Rs. 2000
in Quantitative Aptitude recategorized by
7.9k points
1.3k views

1 Answer

1 vote
1 vote

Interest on Rs 3000 at 5 % p.a. = (3000 * 5 * 1) / 100 = Rs 150.

Let his additional investment at 8 % = x

Interest on Rs x at 8 % p.a. = (x * 8 * 1) / 100 = 2x / 25

To earn 6 % p.a. for the total , Interest = ( (3000+x) * 6 * 1 ) / 100

150 + (2x / 25) = ( (3000+x) * 6 * 1 ) / 100

15000 + 8x = (3000+x) * 6

 x = Rs 1500

Option C is the Correct Answer.

2.7k points

Related questions

Quick search syntax
tags tag:apple
author user:martin
title title:apple
content content:apple
exclude -tag:apple
force match +apple
views views:100
score score:10
answers answers:2
is accepted isaccepted:true
is closed isclosed:true