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Multiple Choice Questions

Mr B has to invest Rs 9 lakh wants to invest for a period of not more than 6 years What is the maxim...........

Quantitative Aptitude (CPO) 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(i) Amount cannot be withdrawn before maturity period.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. B has to invest Rs 9 lakh wants to invest for a period of not more than 6 years. What is the maximum possible interest that he can receive by investing in these schemes? (he can invest in more than one scehme)

Rs 3,10,000

Rs 3,00,000

Rs 2,50,000

Rs 2,85,000

Rs 3,25,000

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Explanation:

As he has to invest for a period of not more than 6 years.

So he can invest in either scheme B or C.
For maximum interest he should invest more money in Scheme B (as it has higher R*T ratio than that of scheme C. )
So he invests Rs 5 lakh i.e the upper limit in scheme 5 and remaining amount in scheme C.

But the limit in scheme C is Rs 3 lakh.

So he can only invest Rs 8 lakh out of the total amount he has.

Total interest on this Rs 8 lakh = 5L *7*6/100 + 3L*5*5/100 = Rs 210000 + Rs 75000 = Rs 285000

Hence, option 4 is the correct answer.

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