MR.X deposited a certain sum of money in a bank in 1986. The bank calculated interest on the balance in the account at 10% simple interest and credited it to the account once a year.At the end of the 1st year ,X withdrew the entire interest and 20% of the initial amount. Again end of the 2nd year, he withdrew the interest and 50% of the remaining amount. At the end of the 3rd year, he withdrew interest and 50% of the remaining amount. Finally at the end of the 4th year , X closed the account and collected the entire balance of Rs.11,000.

The initial amount in rupees, deposited by X was:

A.Rs.75000
B.Rs.25000
C.Rs.50000
D.none of these

• Ans: C
  Let sum = Rs x/-
  Given R= 10%
  S.I at the end of 1st year = x/10
  total Amount after 1st year = x+x/10
  withdrew amount = x/10+20% of x
  Remaining amount = (x+x/10)-( x/10+20% of x) = 4x/5
  Now S.I after 2nd year on remaining amount (4x/5) = 4x/50
  similarly, remaining amount after 2nd year = (4x/5+4x/50)-(4x/50+50% of 4x/5) = 2x/5
  similarly, remaining amount after 3rd year = (2x/5+2x/50)-(2x/50+50% of 2x/5) = x/5
  similarly, remaining amount after 4th year = x/5+x/50 = 11000
  then x = 50000
• 7 years agoHelpfull: Yes(0) No(0)