CAT 2020 Interest Question (Medium)

Question

Veeru invested Rs 10000 at 5 simple annual interest, and exactly after two years, Joy invested Rs 8000 at 10 simple annual interest. How many years after Veeru s investment, will their balances, i.e., principal plus accumulated interest, be equal?

Accepted Answer

Step 1 Let their balances be equal after years from Veeru s investment. Veeru Principal Rs. , Rate , Time years Amount Joy Principal Rs. , Rate , Time years Amount Step 2 Equating their amounts Now, Final Answer The balances will be equal years after Veeru s investment.

CAT 2020

Quantitative

Interest

Medium

Veeru invested Rs 10000 at 5% simple annual interest, and exactly after two years, Joy invested Rs 8000 at 10% simple annual interest. How many years after Veeru’s investment, will their balances, i.e., principal plus accumulated interest, be equal?

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