Gappu's great grandfather did a fixed deposit of Rs 50,000/- at the simple interest rate of 10% in 1

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16 May 2019 Simple Interest

Gappu's great grandfather did a fixed deposit of Rs 50,000/- at the simple interest rate of 10% in 1949, grand mother also did a fixed deposit of 5,00,000/- at the simple interest rate of 8% in 1974 and father did a fixed deposit of 500,000,000/- at the simple interest rate of 7% in 1989.
All these fixed deposits are maturing in 2019. How much amount would Gappu get in 2019?
Assume that Gappu is the sole owner for these deposits made by his family ancestors. Also, assume that once invested fixed deposit's interest rate continues to be fixed at the initial rate throughout the investment tenure.

OPtion

1) 1551700000
2) 1553700000
3) 1554700000
4) 1552100000
5) 1555700000
6) 1556700000
7) 1552700000
8) 1558700000
9) 1559700000
10) None of these

Solution

Amount of great grandfather's investment in 2019 = 50,000 + (50,000*10*70)/100 = 4,00,000
Amount of grand mother's investment in 2019 = 5,00,000 + (5,00,000*8*45)/100 = 23,00,000
Amount of father's investment in 2019 = 500,000,000 + (500,000,000*7*30)/100 = 15500,00,000

In 2019, Gappu would get = 4,00,000 + 23,00,000 + 15500,00,000 = 1552700000

Correct Option: 7 Best Solution (2)

G.S.Kantharao   4 years AGO

Into=(50000*10*70/100)+(500000*8*45/100)+(500000000*7*30/100)
=₹3,50,000+₹18,00,000+₹1050000000=₹1052150000
Principal=₹50000+₹500000+₹500000000=₹500550000
Total amount=₹1552700000
So my option is 7👈

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RAMADURAI NATESAN   4 years AGO

Applying the formula of simple interest, PNR/100 INTEREST on
1st deposit =350000
2nd =1800000
3rd =1050000000
Adding the principal and total interest we get an amount of
1552700000

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