Question
X, Y, and Z each invested amounts of Rs. 60,000, Rs.
180,000, and Rs. 100,000 at an annual simple interest rate of 5%. The investment durations for X, Y, and Z were 6 years, 2 years, and 5 years, respectively. What percentage of Z’s total accumulated amount was the combined total accumulated amount for X and Y?Solution
Accumulated amount for X = 60000 Ă— (1 + 0.05 Ă— 6) = 60000 Ă— 1.3 = Rs. 78000 Accumulated amount for Y = 180000 Ă— (1 + 0.05 Ă— 2) = 180000 Ă— 1.1 = Rs. 198000 Accumulated amount for Z = 100000 Ă— (1 + 0.05 Ă— 5) = 100000 Ă— 1.25 = Rs. 125000 Required percentage = {(78000 + 198000)/125000} Ă— 100 = 220.8%
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