Question 63

A person invested a certain amount of money at 10% annual interest, compounded half-yearly. After one and a half years, the interest and principal together became Rs.18522. The amount, in rupees, that the person had invested is

Name: A person invested a certain amount of money at 10% annual interest, compounded half-yearly. After one and a half years, the interest and principal together became Rs.18522. The amount, in rupees, that the person had invested is
Uploaded: May 3, 2022, 4:49 p.m.
Duration: 1 min 12 s
Description: A person invested a certain amount of money at 10% annual interest, compounded half-yearly. After one and a half years, the interest and principal together became Rs.18522. The amount, in rupees, that the person had invested is

Correct Answer: 16000

Solution

Given,

Rate of interest = 10%

Since it is compounded half-yearly, R=5%

n=3

We know, A = $$P\left(1+\frac{R}{100}\right)^{^n}$$

18522 = $$P\left(1+0.05\right)^3$$

=> P = 16000

Share on Whatsapp Share on Whatsapp

Boost your CAT prep: Take All-India 3 free CAT mock tests with Video solutions

Video Solution

Click on the Email ☝️ to Watch the Video Solution

Create a FREE account and get:

All Quant CAT complete Formulas and shortcuts PDF
35+ CAT previous year papers with video solutions PDF
5000+ Topic-wise Previous year CAT Solved Questions for Free

CAT Quant Questions | CAT Quantitative Ability

CAT Venn Diagrams Questions CAT Remainders Questions CAT Number Series Questions CAT Logarithms, Surds and Indices Questions CAT Simple Interest Compound Interest Questions

CAT DILR Questions | LRDI Questions For CAT

CAT Data Interpretation Basics Questions CAT Truth Lie Concept Questions CAT Maxima-Minima Questions CAT 2D & 3D LR Questions CAT Charts Questions

CAT Verbal Ability Questions | VARC Questions For CAT

CAT Critical Reasoning Questions CAT Grammar and Sentence Correction Questions CAT Verbal Ability Questions CAT Reading Comprehension Questions CAT Para Summary Questions

A person invested a certain amount of money at 10% annual interest, compounded half-yearly. After one and a half years, the interest and principal together became Rs.18522. The amount, in rupees, that the person had invested is

Video Solution

CAT Quant Questions | CAT Quantitative Ability

CAT DILR Questions | LRDI Questions For CAT

CAT Verbal Ability Questions | VARC Questions For CAT

Also Read

Related Formulas With Tests

CAT 2020 QA Slot 3 Question

A person invested a certain amount of money at 10% annual interest, compounded half-yearly. After one and a half years, the interest and principal together became Rs.18522. The amount, in rupees, that the person had invested is

Video Solution

CAT Quant Questions | CAT Quantitative Ability

CAT DILR Questions | LRDI Questions For CAT

CAT Verbal Ability Questions | VARC Questions For CAT

Also Read

Free CAT Quant Questions

Related Formulas With Tests

Login to your Cracku account

Hello! 👋

Ready to Unlock Your Success?

Please Enter Your OTP

Please enter the following details

Create a free Cracku account

Get Started with 5000+ Free CAT Questions & Mock Tests with Detailed Solutions!