Question

Mr. banarjee bought a government cash certificate at yearly 14% simple interest in this context that his wife and son will get the amount in 3:2 ratio after 10 years.If son received 6720 after the term, then value of the certificate was?

Answer 1

6720/ 2 = 3360
5x = 5 × 3360 = 16800

now, 16800 = 140% + 100%
16800 = 240 / 100 × ?
? = 16800 × 100 / 240.

? = ₹ 7000 Ans.....

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Answer 2

Answer:

7000

Step-by-step explanation:

Simple interest = Principal x Time x Rate of interest/100

=PRT/100

here in the question,

Yearly Rate of Interest = 14%

Time= 10 years

let value cash certificate = P

simple interest = $\frac{Px14X10}{100}$

$=1.4 P$

The total amount of cash certificate after 10 years = P+1.4 P

=2.4 P

His wife to son amount=3:2

total amount = 5 parts

son gets 6720 = 2 parts out of 5

The total amount of cash certificate after 10 years = $\frac{6720X5}{2}$

=16,800

=2.4 P

2.4P=16,800

P=7000

then value of the certificate was 7000