Question

Divide the sum of Rs.6728 between Ajay & Baskar.So that the Shares of Ajay at the end of 6 years may be equal to the Shares of Baskar at the end of 8 years,Compound interest being 5%?

Answer 1

Answer:

Whenever the Total Amount is given & their rate & number of years given,it is easy to calculate,

hope it's helpful u

Answer 2

3528 and 3200 are the initial shares of Ajay and Baskar.

We have to divide the sum of Rs.6728 between Ajay and Baskar so that the shares of Ajay at the end of 6 years may be equal to the shares of Baskar at the end of 8 years,compound interest being 5%.

Let x and y are the initial shares of Ajay and Baskar.

∴ x + y = 6728 ...(1)

using Formula,

A = P(1 + r/100)ⁿ

Shares of Ajay at the end of 6 years = x(1 + 5/100)^6

Shares of Baskar at the end of 8 years = y(1 + 5/100)^8

A/c to question,

Shares of Ajay at the end of 6 years = Shares of Baskar at the end of 8 years.

⇒ x(1 + 5/100)^6 = y(1 + 5/100)^8

⇒x = y(1 + 5/100)^(8 - 6)

⇒x = y(1 + 1/20)²

⇒x/y = (21/20)² = 441/400

let proportionality constant is k

then, x = 441k and y = 400k

putting values of x and y in equation (1) we get,

441k + 400k = 6728

⇒841k = 6728

⇒k = 6728/841 = 8

∴ Initial shares of Ajay = 441k = 441 × 8 = 3528

initial shares of Baskar = 400k = 400 × 8 = 3200