Multiple choice

Three persons, Amar, Akbar and Anthony, invested different amounts in a fixed deposit scheme for one year at the rate of 12% per annum and earned a total interest of Rs. 3240 at the end of the year. If the amount invested by Akbar was Rs. 5000 more than the amount invested by Amar and the amount invested by Anthony was Rs. 2000 more than the amount invested by Akbar, then what was the amount invested by Akbar?

  1. Rs. 12,000

  2. Rs. 10,000

  3. Rs. 7000

  4. Rs. 5000
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let Amar's investment be x. Then Akbar's is x + 5000 and Anthony's is (x + 5000) + 2000 = x + 7000. Total interest is 3,240 at 12% for 1 year, so total principal is 3,240 / 0.12 = 27,000. Summing the investments: x + (x + 5000) + (x + 7000) = 27,000, so 3x + 12,000 = 27,000, 3x = 15,000, x = 5,000. Akbar's investment is 5,000 + 5,000 = 10,000.

AI explanation

Let the amount invested by Amar be X rupees. Akbar invested X plus 5000 rupees, and Anthony invested X plus 7000 rupees. The total interest earned is 12 percent of the total principal, so 0.12 times (3X plus 12000) equals 3240. Dividing both sides by 0.12 gives 3X plus 12000 equals 27000. Solving for X gives 3X equals 15000, so X equals 5000. The amount invested by Akbar is 5000 plus 5000, which equals Rs. 10,000.

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