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Mr. Dutta desired to deposit his retirement benefit of Rs. 3 lacs partly to a post office and partly to a bank at 10% and 6% simple interests respectively. If his monthly income was Rs. 2000, then the difference of his deposits in the post office and in the bank was =

a) Rs. 100000
b) Rs. 40000
c) Rs. 50000
d) Rs. Nil

Answer: d
Explanation: 10% of Rs. 3 Lacs = 30000
6% of Rs. 3 Lacs = 18000
1 month interest income = 2000
1 year interest income = 2000 × 12 = 24000
Profit of Bank = 24000 – 18000 = 6000
Profit of Post Office = 30000 – 24000 = 6000
Ratio of profit = 6000 : 6000 = 1 : 1
So, amount deposited = Rs. 150000 each and difference = 0

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