GRE
Exam
Numerical Ability
Simple & Compound Interest
Nguyen had invested a total of $20,000 in two banks A and B. At the end of one year he realized that his interest amount from bank A was one and half times that from bank B. If his investment in bank A was three times as that in bank B and if he earned a total interest amount of $1,250 from the two banks then what is the interest rate in bank B ?
[A] 10% [B] 8 [C] 12% [D] 5%
Read Solution (Total 1)
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- Let the interest rate be "x%"
Therefore,
Interest amount of Bank A + Interest Amount of Bank B = Rs.1250
(5000*x*1)/100 + (15000*3x*1)/200 = 1250
50x + 225x = 1250
275x = 1250
x = 4.56%~5% (Option D) - 6 years agoHelpfull: Yes(0) No(0)
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