In a bank, 6% interest is given on the deposited amount. The bank then invests the money in the stock market and is able to earn ₹30,000 for every ₹3,00,000. How much money is the bank earning finally if the total amount deposited in the bank is ₹60,00,000?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. ₹2,40,000.
Earning from stock market = (30000/300000) × 100 = 10%
(10 - 6)% = 4%
Earned by bank finally = (4/100) × 6000000 = 240000
Therefore, the bank earns finally ₹2,40,000.