Question
Tina invests Rs. ‘X’ for 3 years at 6% p.a. simple interest. Mina invests the same Rs. ‘X’ for 2 years at 8% p.a. compound interest. If Tina’s interest is Rs. 340 more than Mina’s interest, find the value of 3X.
Solution
ATQ, Simple Interest of Tina = X × 6 × 3 / 100 = 0.18X Compound Interest of Mina (for 2 years) = X[(1 + 8/100)^2 − 1] = X[(1.08)^2 − 1] = X(1.1664 − 1) = 0.1664X According to the question, 0.18X − 0.1664X = 340 0.0136X = 340 X = 25000 Required value = 3X = 3 × 25000 = Rs. 75000
More Partnership Questions
- 'A', 'B' and 'C' started a business together such that 'A' invested a 20% of the total capital invested by 'A', 'B' and 'C' together, 'B' invested 25% of t...
- In a partnership, the amount invested by ‘P’ and ‘Q’ is in the ratio 7:4. The amount invested by ‘R’ is Rs. 600 less than the amount invested by ‘P’. If al...
- What is C’s share of the profit (in ₹)? I: A and B start a business. A invests ₹40,000 for the entire year. B invests ₹60,000 for the first 6 months and t...
- A and B started a retail store with initial investments in the ratio 6:7 and their annual profits were in the ratio 4:5. If A invested the money for 7 mont...
- ‘A’ and ‘B’ together started a business by investing their capitals in ratio 3:2, respectively. Nine months later, they both invested Rs. 500 more. If at t...
- A and B start a business. A invests Rs 5,000 for the whole year, while B invests Rs 8,000 for 9 months only. At the end of the year, the total profit is Rs...
- Gopal and Henry initiated a business venture with investments of Rs.3200 and Rs.2400, respectively. After six months, Kirti joined the partnership with an ...
- M and N started a partnership with investments of Rs. 10,000 and Rs. 8,000. After 6 months, M increased his contribution by Rs. 2,000 and O joined with Rs....
- A and B together started a business by investing their capital in the ratio of 11:8, respectively and total amount invested by them together is Rs. 7600. A...
- Balu’s investment is half of Raj’s investment. After 4 months, Raj leaves and Ram joins with an investment of X amount (not in the same month). If the prof...
Relevant for Exams:
