Multiple choice

Mr. Sharma invests a certain amount of money in four different banks: Bank A, Bank B, Bank C, and Bank D. The rate of interest at Bank A is 5% per annum, at Bank B is 7% per annum, at Bank C is 9% per annum, and at Bank D is 11% per annum. After 2 years, he received a total interest of Rs. 18,000. The amount of money invested in Bank A is one-third of the amount invested in Bank B, the amount invested in Bank C is half of the amount invested in Bank B, and the amount invested in Bank D is three-fourths of the amount invested in Bank C. Find the principal amount invested in Bank C.

  1. Rs. 17,350

  2. Rs. 26,024

  3. Rs. 39,036

  4. Rs. 1,04,096

  5. a
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let the investment in Bank C be x. Then the investments in A, B, and D are 2x/3, 2x, and 3x/4 respectively. Using two years of simple interest gives 0.10(2x/3) + 0.14(2x) + 0.18x + 0.22(3x/4) = 18000, so x is approximately Rs. 26,024.

Keep practicing — related questions