Question
The amounts invested by 'P' and
'Q' in Funds 'X' and 'Y' are in the ratio of 8:5. If 'P' invested ₹4800 more than 'Q,' determine the total amount that 'Q' will receive after two years if his investment earned compound interest at 50% per annum, compounded yearly.Solution
ATQ,
Let the sum invested by ‘P’ and ‘Q’ be Rs. 8x and Rs. 5x, respectively According to the question, 8x – 5x = 4800 Or, 3x = 4800 Or, x = 1600 Therefore, sum invested by ‘Q’ in Fund ‘Y’ = 5x = Rs. 8000 Amount received by ‘Q’ = 8000(1 + 50/100)2 = Rs.18000
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