Two persons A and B invest money in two schemes. A invests Rs. 6000 for 2 years in R% CI per annum. B invests Rs.7000 for 2 years in 20% CI per annum. If ratio of the amount received By A and B is 56: 75 respectively, find the value of R.
ATQ: {6000 (1 + R/100)2}/{7000(1 + 20/100)2} = 56/75 => 6/7 × {(1 + R/100)2/{(1 + 1/5)2} = 56/75 => 6/7 × 25/36 × (1 + R/100)2 = 56/75 => (1 + R/100)2 = 56/75 × 36/25 × 7/6 => (1 + R/100)2 = 784/625 => 1 + r/100 = 28/25 => 1 + r/100 = 1 + 3/25 => r/100 = 3/25 => r = 12%
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