A person divided Rs 2523 into two parts and. deposite them in name of A and B of his two sons for 3 and 5 years at compound interest respectively if both got same amount then the amount deposited in the name of A ?
Answers
Correct Question :- A person divided Rs 2523 into two parts and. deposite them in name of A and B of his two sons for 3 and 5 years at 5% compound interest respectively . if both got same amount then the amount deposited in the name of A ?
Solution :-
Let us assume that, the amount deposited in the name of A is Rs.x .
so,
→ Amount deposit in the name of B = Rs.(2523 - x) .
we know that, when rate is at compound interest per annum ,
- A = P[1 + (R/100)]^T
putting values we get,
→ x[1 + (5/100)]³ = (2523 - x)[1 + (5/100)]⁵
→ x/(2523 - x) = [1 + (5/100)]⁵ / [1 + (5/100)]³
→ x/(2523 - x) = [1 + (1/20)]²
→ x/(2523 - x) = (21/20)²
→ x/(2523 - x) = 441/400
→ 400x = 2523 * 441 - 441x
→ 400x + 441x = 2523 * 441
→ 841x = 2523 * 441
→ x = 3 * 441
→ x = Rs. 1323 (Ans.)
therefore, the amount deposited in the name of A is Rs.1323 .
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