A man deposited a certain amount in a bank that would repay double the amount after a year. At the
beginning of the second year, the man took out Rs 8000 and deposited the rest in the same bank. Again at the beginning of the third year, he took out Rs 8000 and deposited the rest in the same bank. At the beginning of the fourth year, he took out Rs 8000 as before but was not left with any balance in the bank. What was his initial deposit?

Rs 6000

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Rs 9000

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Rs 8000

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Rs 7000

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Solution

The correct option is D Rs 7000
$L e t t h e i n i t i a l d e p o s i t b e R s . x, a m o u n t a f t e r 1 s t y e a r = R s . 2 x a m o u n t l e f t a f t e r w i t h d r a w l = R s . 2 x - 8000, a m o u n t a f t e r 2 n d y e a r = R s . 4 x - 16000 a m o n u t l e f t a f t e r w i t h d r a w l = R s . 4 x - 24000, a m o u n t a f t e r 3 r d y e a r = R s . 8 x - 48000 = R s . 8000, 8 x = 56000, x = R s . 7000$

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The correct option is D Rs 7000LettheinitialdepositbeRs.x,amountafter1styear=Rs.2xamountleftafterwithdrawl=Rs.2x−8000,amountafter2ndyear=Rs.4x−16000amonutleftafterwithdrawl=Rs.4x−24000,amountafter3rdyear=Rs.8x−48000=Rs.8000,8x=56000,x=Rs.7000