CAT 2025 Interest Question (Hard)

Question

At a certain simple rate of interest, a given sum amounts to Rs 13920 in 3 years, and to Rs 18960 in 6 years and 6 months. If the same given sum had been invested for 2 years at the same rate as before but with interest compounded every 6 months, then the total interest earned, in rupees, would have

Accepted Answer

Let the principal be P and rate of interest be r . Now, 13920 P 100 or, 13920-P 100 ---- 1 Also, 18960 P 100 times 2 18960-P 100 times 2 ----- 2 Dividing eqn 1 by eqn 2 , 18960-P 2 13 or, left 13920-P right 13 left 18960-P right 6 or, 13920 times 13-13P 18960 times 6-6P or, 13920 times 13-18960 time

CAT 2025

Quantitative

Interest

Hard

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