Question
The ratio of the compound
interest earned on an amount of Rs. 'p' at an interest rate of 15% per annum for 2 years to the simple interest earned on Rs. (p - 3000) at an interest rate of 12% per annum for 3 years is given as 129:90. Calculate the total interest obtained from both the compound interest and simple interest combined.Solution
ATQ, From the question: [p × (1 + 15/100) 2 – p]/[{(p – 3000) × 12 × 3}/100] = 129/90 [129p/400]/[{(p – 3000) × 36}/100] = 129/90 p/[4 × (p – 3000) × 2] = 1/5 5p = 8p – 24000 p = 8000 Now, CI received on Rs.8000 at a 15% rate after 2 years: 8000 × (1 + 15/100) 2 – 8000 = Rs.2580 And, SI received on Rs.5000 at a 12% rate after 3 years: (5000 × 12 × 3)/100 = Rs.1800 Required sum = 2580 + 1800 = Rs.4380
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