Question

3. A man sold his flat. He invests half of the money received at a compound interest of 6% p.a. and
the other half at 10% p.a. for 3 years. He will get Rs 6,30,504 after 3 years. At what price did he sell
his flat?


PLEASE GIVE ME THE CORRECT ANSWER THEN I FOLLOW YOU PLEASE ​

Answer 1

Given :

• A man sold his flat. He invests half of the money received at a compound interest of 6% p.a. and the other half at 10% p.a. for 3 years.

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Find :

• He will get Rs 6,30,504 after 3 years. At what price did he sell his flat?

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Using formula :

★ Amount = Principal (1 + Rate)ⁿ.

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Know term :

• n => Number of years or time.

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Calculations :

→ 0.5 (1.06³ + 1.10³)

→ 6,30,504/{0.5 (1.06³ + 1.10³)}

→ 5,00,000

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Therefore, 5,00,000 rupees is the price he sell his flat.