Question 89

Under 11% interest rate per interest rate of Rs. 8,000 is invested. The amount is then taken over 5 years and half of it is invested in the stock market. Find the outstanding balance. (In Rupees)

Solution

Principal sum = Rs. 8,000

Rate of interest = 11% and time period = 5 years

Simple interest = $$\frac{P\times R\times T}{100}$$

= $$\frac{8000\times11\times5}{100}=Rs.$$ $$4400$$

Thus, total amount after 5 years = $$Rs.$$ $$(8000+4400)=Rs.$$ $$12,400$$

$$\therefore$$ Remaining amount after half of the total amount is been invested in Stock market = $$\frac{12400}{2}=Rs.$$ $$6200$$

=> Ans - (B)

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