Question

Ashok invests a certain sum of money at 20% per annum, compounded yearly. Geeta invests an equal
amount of money at the same rate of interest per annum compounded half-yearly. If Geeta gets ₹33
more than Ashok in 18 months, calculate the money invested.

Answer 1

Answer:

Given, Rate of interest (R) = 20% p.a

Time (n) = 18 months

Let the principal be Rs P.

For Ashok:

Amount after 1 years = Rs P

Simple interest on Rs

∴ Amount at the end of

For Geeta:

R = 20% p.a. = 10% half yearly

years = 3 half years

∴ Amount, A2 = Rs P

It is given that Geeta receives Rs 33 more than Ashok.

∴ Money invested by each is Rs 3000.

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