Question

kamal and anand each lent out the sum of money for 2year at 5%at simple interest respectively. Anand received 15rs than kamal. find the amount of money lent by each and the Interest received

Answer 1

the Interest earned by Kamal in two years will be equal to = 10 % ( 5% + 5%)


and the compound Interest on the same sum earned by Anand = 10 % and 5 % Interst of the 5 % Interst of the first year that is .25%.

So total compound Interest for Anand = 10.25 %

the difference between the Interst is 15 Rupees.

10.25% - 10 % = 15

.25 % = 15

1 % = 60

100 % = 6000 ( amount is always considered to be 100%)

So the amount is 6000.

interested earned by Kamal is only 10 % so his Interest will be = 600


interested earned by Anand is only 10.25 % so his Interest will be 10.25% of the principle = 615