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Multiple Choice Questions

Mr E invested some amount in Scheme C But after 3 years from the date of investment he passed away H...........

Quantitative Aptitude(Banking) Data Table

Direction : Read the following data and table to answer the following questions.

There are five friends Mr. A, Mr. B, Mr. C, Mr. D and Mr. E. There are three investment schemes in which these five friends can invest their money. The details of these schemes are given below.
(i) Amount cannot be withdrawn before maturity period.
(ii) No reinvestment after maturity period is allowed in any scheme.
(iii) Total Amount(including interest) is payable at the end of the maturity period.

Scheme	Minimum Investment Amount	Maximum Investment Limit	Interest Rate (Simple Interest) p.a	Maturity Period
Scheme A	Rs 5 lakh	Rs 10 lakh	6%	10 years
Scheme B	Rs 2 lakh	Rs 5 lakh	7%	6 years
Scheme C	Rs 1 lakh	Rs 3 lakh	5%	5 years

Mr. E invested some amount in Scheme C. But after 3 years from the date of investment he passed away. His Wife Mrs. E was allowed premature withdrawal as an exceptional case by the bank at the end of 3 years but with a deduction of 1% from the total amount payable. If Mrs. E receives Rs 2,27,700 at the end of 3 years, what amount did Mr. E inversted?

Rs 1,75,000

Rs 1,50,000

Rs 2,00,000

Rs 2,10,000

None of these

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Explanation:

This amount is 99% of the total amount that was receivable.
So total amount = 100/99 *227700 = Rs 230000
Find principle for this amount at 5% for 3 years at SI.

Hence, option 3 is the correct answer.

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