Advertisements
Advertisements
Question
Divide Rs. 28,730 between A and B so that when their shares are lent out at 10% compound interest compounded per year, the amount that A receives in 3 years is the same as what B receives in 5 years.
Solution
Let share of A = Rs. y
share of B = Rs (28,730 - y)
rate of interest = 10%
According to question,
Amount of A in 3 years = Amount of B in 5 years
⇒ `y( 1 + 10/100 )^3 = ( 28,730 - y)( 1 + 10/100 )^5`
⇒ `y = ( 28,730 - y )( 1 + 10/100)^2`
⇒ `y = ( 28,730 - y )( 121/100)`
⇒ 100y = 121(28,730 - y)
⇒ 100y + 121y = 121 × 28,730
⇒ 221y = 121 × 28,730
⇒ y = `[ 121 xx 28,730]/[221]` = Rs. 15,730
Therefore, share of A = Rs. 15,730
Share of B = Rs. 28,730 - Rs. 15,730 = Rs. 13,000
APPEARS IN
RELATED QUESTIONS
Find the amount and the compound interest on Rs. 12,000 in 3 years at 5% compounded annually.
Calculate the amount of Rs. 15,000 is lent at compound interest for 2 years and the rates for the successive years are 8% and 10% respectively.
Calculate the compound interest accrued on Rs. 6,000 in 3 years, compounded yearly, if the rates for the successive years are 5%, 8% and 10% respectively.
What sum of money will amount to Rs. 5,445 in 2 years at 10% per annum compound interest?
On a certain sum, the compound interest in 2 years amounts to Rs. 4,240. If the rate of interest for the successive years is 10% and 15% respectively, find the sum.
At what rate percent compound interest, does a sum of money become 1.44 times of itself in 2 years?
A person invests Rs5,000 for three years at a certain rate of interest compounded annually. At the end of two years this sum amounts to Rs6,272. Calculate :
(i) the rate of interest per annum.
(ii) the amount at the end of the third year.
In how many years will Rs. 7,000 amount to Rs. 9,317 at 10% per annum compound interest ?
A sum of Rs 44,200 is divided between John and Smith, 12 years and 14 years old respectively, in such a way that if their portions be invested at 10% per annum compound interest, they will receive equal amounts on reaching 16 years of age.
(i) What is the share of each out of Rs44,200 ?
(ii) What will each receive, when 16years old ?
The simple interest on a certain sum of money and at 10% per annum is Rs. 6,000 in 2 years, Find:
- the sum.
- the amount due to the end of 3 years and at the same rate of interest compounded annually.
- the compound interest earned in 3 years.
