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 p.a compounded half yearly. if geeta gets 33 more than ashok in 18 months, calculate the money invested.​

Answer 1

Answer:

Let P be the principle, R=20%, T=18 months=1.5 years,

for Ashok (compounded yearly)

⇒Amount =p(1+100R)T

⇒A1=P(1+10020)1.5=1.32P

for Geeta (compounded half-yearly)

⇒A2=P(1+200R)2T=P(1+20020)2×1.5

⇒A2=1.331P

Given A1−A2=33⟹(1.331−1.32)P=33

⟹P=3000