Delhi Police Constable 2014 Paper

Question : 50 of 100

Marks: +1, -0

Ravi borrowed ₹ 12500 from his friend on the condition to return after three years without any interest. Ravi spent some money from it and deposited the rest at bank on 7.75% compound interest so that he could return the whole amount after three years. Tell, how much money he spent? Assume that bank pays interest in whole rupees only.

2000
1500
2500
None of these

Validate

Solution:

Let Ravi spent ₹ x
then deposited in the bank = ₹ 12500 – x
According to the question,
On

\₹(12500- x), r = 7.75%

on compound interest Amount after three years should be = 12500.

∴ (12500-x)(1+\;{7.75}/{100})^{3}=12500

(12500-x)(1.0775)^{3}=12500

(12500-x)(1.25)=12500

15625-1.25 x=12500

1.25 x=15625-12500

1.25 x =3125

x=\₹ 2500

Hence, amount spent = ₹ 2500.

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