₹16820 is divided between Govind and Geeta, both aged 27 and 25 years respectively. Their money is invested at 5% p.a compound interest in such a way that both receive equal money at the age of 40 years. Find the share of each out of ₹16820.
Answers
Step-by-step explanation:
Let Govind have share of Money=x
then Geeta share=16820-x
Interest rate=5%
Time of Govind=40-27=13 years
Time of Geeta=40-25=15 years
They receive equal money at the age of 40 years
As we know,
A=P(1+R)^n
after their age of 40 years
Share of Govind=share of Geeta
x(1+5/100)^13=(16820-x)×(1(5/100)^15
dividing both sides by (1+5/100)^13
we get,
x=(16820-x)×(1+5/100)^2
x=(16820-x)×(1.05)^2
x=(16820-x) ×1.1025
x=16820×1.1025-1.1025x
2.1025x=18544.05
x=8820
Govind share=Rs.8820/-
Geeta share = 16820-8820= Rs. 8000/-
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Answer:
Suppose Share of elder brother = Rs. y
∴ Share of younger brother = Rs. (16820 – y)
Using the given formula ,
A = P 1 +
R
T
100
According to the question,
y 1 +
5
13 = (16820 – y) 1 +
5
15
100 100
⇒ y = (16820 – y) 1 +
1
2
20
⇒ y = (16820 – y)
21
2
20
⇒ y = (16820 – y)
21
2
20
⇒
21
2 y = 16820 – y
20
⇒
400y
+ y = 16820
441
⇒
400y + 441y
= 16820
441
⇒ 841y = 16820 × 441
⇒ y =
16820 × 441
= Rs. 8820
841