Manish divided ₹16400 between Neha and
Nitin, then they lent out their shares at CI.
Amount that Neha receives in 2 years is the
same as what Nitin receives in 3 years. The
interest is compounded annually at the rate of
5% p.a. Find their shares.
Answers
Given :- Manish divided ₹16400 between Neha and
Nitin, then they lent out their shares at CI. Amount that Neha receives in 2 years is the same as what Nitin receives in 3 years. The interest is compounded annually at the rate of 5% p.a.
To Find :- Share of Neha and nitin ?
Answer :-
Let share of neha is Rs.x . so, share of nitin will be Rs.(16400 - x) .
given that,
→ Amount of neha in 2 years at 5% = Amount of nitin in 3 years at 5%
A/q,
→ x[1 + (5/100)]² = (16400 - x)[1 + (5/100)]³
→ x / (16400 - x) = [1 + (5/100)]³ / [1 + (5/100)]²
→ x / (16400 - x) = 1 + (5/100)
→ x / (16400 - x) = 1 + (1/20)
→ x / (16400 - x) = (21/20)
→ 20x = 16400 * 21 - 21x
→ 20x + 21x = 16400 * 21
→ 41x = 16400 * 21
→ x = (16400 * 21)/41 = Rs.8400 .
therefore,
- Share of Neha = x = Rs.8400
- Share of Nitin = (16400 - x) = Rs.8000
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