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CAT 2022 Slot 3 Paper

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Question : 53 of 66

Marks: +1, -0

Nitu has an initial capital of ₹20,000. Out of this, she invests ₹8,000 at 5.5% in bank A, ₹5,000 at 5.6% in bank Band the remaining amount at x% in bank C, each rate being simple interest per annum. Her combined annual interest income from these investments is equal to 5% of the initial capita l. If she had invested her entire initial capital in bank C alone, then her annual interest income, in rupees, would have been

700
800
900
1000

Solution:

It is given,

\frac{5.5 \times 1 \times 8000}{100}+\frac{5.6 \times 1 \times 5000}{100}+\frac{x \times 1 \times 7000}{100}=\frac{5}{100} \times 20000

440+280+70x=1000

x=4\%

\text{ Interest }=\frac{20000 \times 4 \times 1}{100}=\text{ Rs }800

The answer is option B.

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