CAT 2020 Exam Shift 3 Solved Paper

Question : 62 of 76

Marks: +1, -0

A person invested a certain amount of money at

10 \%

annual interest, compounded half-yearly. After one and a half years, the interest and principal together became Rs

18522 .

The amount, in rupees, that the person had invested is

Solution:

Let the sum be

P

.
Given,

P ×(1+\;{10}/{200})^{3}=18522

⇒ P=18522 ×(\;{20}/{21})^{3}=16000

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