A man invested Rs. 4000 at 6% and Rs. 3000 at 4%. After certain time he found that the sum of the interests in the two investments is Rs. 1800. Find the duration of the investment.
Answers
Answered by
2
Answer:
For ,
N=1years
P=Rs3,000
A=Rs3,240
=>S.I.=A−P=Rs240
We have S.I.=
100
PNR
=
100
3,000×1×R
=Rs240
=>R=8 %
And on interest being compounded for 3 years and R=8 %, Amount=P(1+
100
R
)
N
=3,000×(1+
100
8
)
3
=3,000×(1.08
3
)=3,779.136 or Rs3,779
Similar questions