Question
Jeevan borrowed an amount of Rs. 'x' from a bank. Out of
this, he lent 25% of the borrowed amount to Jeshu at a simple interest rate of 20% per annum for 2 years. The remaining amount was lent to Jigar at a compound interest rate of 33.33% per annum, compounded annually, for 2 years. The difference between the interest earned from Jigar and Jeshu is Rs. 17,400. Calculate the value of 'x'.Solution
Let the amount borrowed by Jeevan be Rs. '300a' So, amount given to Jeshu = 300a X 0.25 = Rs. '75a' Amount given to Jigar = 300 x 0.75a = Rs. '225a' Interest paid by Jeshu = 75a X 2 X 0.20 = Rs. '30a' CI = P (1 + R/100)t - P Interest paid by Jigar = 225a X (4/3) 2 - 225a = Rs. '175a' ATQ, (175a - 30a) = 17400 Or, 145a = 17400 So, 'a' = 120 Amount borrowed by Jeevan = Rs. '120a' = 120 x 300 = Rs. 36,000
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