Paper 1 · Mathematical Reasoning and Aptitude
UGC NET December 2022 (01.03.2023) Shift-I
A man invested one-third of his retirement gratuity at 6 percent simple interest, one-fourth of his gratuity at 7 percent, and the rest at 8 percent simple interest. If his annual return on these investments is Rs 7012.5, find the total amount of gratuity invested by the man.
ARs 89000
BRs 99000 ✓ Correct
CRs 95000
DRs 105000
Correct answer: (B) Rs 99000 — The total gratuity is Rs 99000, so the answer is Rs 99000.
Explanation
★The total gratuity is Rs 99000, so the answer is Rs 99000.
★Let the total gratuity be x.
★One-third of x at 6 percent gives interest 6 times x over 3 divided by 100.
★One-fourth of x at 7 percent and the remaining five-twelfths of x at 8 percent give the rest.
★Adding these interests gives 85x over 1200.
★Setting this equal to 7012.5 and solving gives x equal to 99000.
★So the total gratuity is Rs 99000.
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