Question
Rs. 12,300 is divided between Akash and Vikas so that the amount Akash receives in 2 years is same as that what Vikas receives in 4 years. If the interest is compounded annually at the rate of 25% per annum then Akash’s share is
Solution
Let Akash get x and Vikas get (12300 - x) Then amount received by Akash after two years = x × (1 + 25/100)² And amount received by Vikas after 4 years = (12300 - x) × (1 + 25/100)⁴ Both get equal amount = x (1 + 25/100)² = (12300 - x) × (1 + 25/100)⁴ x = (12300 - x) (1 + 25/100)² x/(12300-x)= 25/16 16 x = 25 × 12300 - 25 x 41 x = 3,07,500 x = 7,500 So, Akash will get Rs. 7,500
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