Question

Three persons Amar, Akbar and Anthony invested different amounts in a fixed deposit scheme for one year at the rate of 12% per annum and earned a total interest of Rs 3,240 at the end of the year. If the amount invested by Akbar is Rs 5000 more than the amount invested by Amar and the amount invested by Anthony is Rs 2000 more than the amount invested by Akbar, what is the amount invested by Akbar?

• A. Rs 12,000
• B. Rs 10,000
• C. Rs 7000
• D. Rs 5000

Answer 1

The correct option is B Rs 10,000

12% Rate of interest on the amount invested gives an interest of Rs 3240. This means that 0.12 A =3240 => A = Rs. 27000. The sum of the investments should be Rs 27000. If Akbar invests x, Amar invest x -5000 and Anthony invests x + 2000. Thus:
x+x -5000 +x +2000 =27000 $\to x=10000$.