Question
Amit invested Rs. 8,500 for 5 years in a scheme offering
simple interest at 10% per annum. He distributed the total amount received by him from the scheme among his three cousins ‘X’, ‘Y’ and ‘Z’ in the ratio 2:5:3 respectively. Find the amount received by ‘Y’.Solution
ATQ,
Amount received by Amit from the scheme = 8500 + (8500 × 10 × 5 ÷ 100) = 8500 × {1 + (50/100)} = 8500 × (150/100) = 85 × 150 = Rs. 12,750 Amount received by ‘Y’ = 12750 × (5/10) = Rs. 6,375
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