A sum of ₹33,100 was divided between Timir and Monali in such a way that if both invested their shares at 10% compound interest per annum, the amount payable on maturity to Monali after 18 years would be the same as the amount payable on maturity to Timir after 20 years. What was the share(Aprox) of Monali in the initial sum?
Let the share of Monali and Timir be x and (33100 - x) respectively. The amount payable in the case of Monali. = x (1 + 10/100)18 The amount payable in the case of Timir. (33100-x) (1 + 10/100)20 According to the question, (33100 - x) (1 +10/100)20= x (1 + 10/100)18 (33100-x) (1 + 10 /100) 20-18 = x (33100-x) (1 + 10/100)2 = x (33100-x) x 1.21 = x 40051-1.21x = x 2.21x=40051 x=40051/2.21 x = 18122.62 The initial share of Monali was Rs. 18122 Rs.
The difference between compound and simple interest on a sum of money for 2 years at 4% per annum is Rs. 580. The sum is:
Arjun acquired a smartphone with a price tag of Rs. 18,000. For the initial payment, he paid Rs. 2,160. The remainder was to be paid in two equal instal...
The interest earned on investing Rs. 5000 for 2 years at the rate of 20% p.a., compounded annually, is used to purchase an article. If the article is la...
The interest earned on investing Rs. 'P' for 5 years at simple interest of 10% p.a. is Rs. 500 more than the interest earned on investing Rs. (P - 1,500...
1120 becomes 1792 at a certain rate of simple interest in 10 years. If the rate of interest would be 4 % less, then find the amount at the end of 12.5 y...
Rs.7600 is divided into two parts such that if one part be invested at 4% and the other at 5%, the annual interest from both the investments is Rs. 336....
Anjali invested Rs.14000 in a scheme offering compound interest of x% p.a. compounded annually. If at the end of 2 years, interest received by her from ...
A certain sum of money will be doubled in 2 years at the rate of simple interest percent per annum is:
What sum of money must be given at simple interest for 5 months at 3% per annum in order to earn Rs. 260 interest?
Suresh earned an interest of Rs. 1032 on principal amount of Rs. 3200 at some rate of compound interest in 2 years. How much more/less interest would he...
