Question
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?Solution
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.
More Compound Interest Questions
- Which letter and number cluster will replace the question mark (?) to complete the given series?
LT6, KU12, IW24, FZ48, ____ - Which letter-cluster will replace the question mark (?) in the following series?
RGV, UME, ?, AYW, DEF - A series is given with one term missing. Choose the correct alternatives from the given ones that will complete the series.
57, 59, 56, 61, 54, ___ - Select the number from among the given options that can replace the question mark (?) in the following series.
17, 18, 22, 31, 47, ___ - Which letter-cluster will replace the question mark (?) in the following series?
NPQR, OORQ, PNSP, ____, RLUN
