CAT 2022 Slot 3 Paper

Question : 53 of 66

Marks: +1, -0

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 Band 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 capita l. If she had invested her entire initial capital in bank C alone, then her annual interest income, in rupees, would have been

700
800
900
1000

Validate

Solution:

It is given,

{5.5 × 1 × 8000}/{100}+{5.6 × 1 × 5000}/{100}+{x × 1 × 7000}/{100}={5}/{100} × 20000

440+280+70 x=1000

x=4 \%

\text " Interest "={20000 × 4 × 1}/{100}=\text " Rs " 800

The answer is option B.

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