Management Aptitude Test Sep 2011 Paper

Question : 107 of 200

Marks: +1, -0

Sharma invested one -half of his savings in a bond that paid simple interest for 2 yr and received ₹ 550 as interest. He invested the remaining in a bond that paid compound interest, interest being compounded annually , for the same 2 yr at the same rate of interest and received ₹ 605 as interest. What was the value of his total savings before investing in these two bonds?

₹ 22000
₹ 11000
₹ 5500
₹ 2750

Validate

Solution:

(4) Let value of Sharma’s total savings = P
Then, difference between Cl and SI
D =

{SI × R}/200

⇒ 605 - 550 =

{550×R}/200

⇒ 55 =

{55R}/20

⇒ R = 20%
Again, D =

{PR^2}/100^2

55 =

{P × 20 × 20} /{100×100}

⇒ P = 55 x 25 = 1375
Hence, total savings = ₹ 1375 x 2 = ₹ 2750

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