Question

a man deposited some money in the bank .bank gives 10% per annum on simple interest.after 2 year he withdraw Rs3000.Bank gives 5%per annum on simple interest on remaining amount.At the end of the 4 year total amount is Rs9900.Find the initial investment

Answer 1

Answer:

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Answer 2

Given :

A man deposited some money in the bank .bank gives 10% per annum on simple interest.after 2 year he withdraw Rs3000.Bank gives 5%per annum on simple interest on remaining amount.At the end of the 4 year total amount is Rs9900

To Find:

Find the initial investment

Solution:

Let the initial investment be x

Bank gives 10% per annum on simple interest.after 2 year he withdraw Rs3000

Formula :

Simple interest =$\frac{P \times T \times R}{100}=\frac{x \times 2 \times 10}{100}=0.2x$

Amount after 2 years = Principal+Interest = x+0.2x=1.2x

He withdraws 3000

So, Amount left = 1.2x-3000

Bank gives 5%per annum on simple interest on remaining amount.At the end of the 4 year total amount is Rs9900

Simple interest = $\frac{P \times T \times R}{100}=\frac{(1.2x-3000) \times 5 \times 4}{100}=0.24x-600$

Amount after 4 years = 1.2x-3000+0.24x-600=1.44x-3600

At the end of the 4 year total amount is Rs9900.

So, $1.44x-3600 =9900\\1.44x=9900+3600\\x=\frac{9900+3600}{1.44}\\x=9375$

Hence The initial investment is Rs.9375