Question

Priya and Anindhita together earn an amount of 45,000. Priya saves 10% of her salary while Anindhita saves 15% of her salary. If their savings are equal, find the salary of each jad​

Answer 1

Answer:

n=36,-37

Step-by-step explanation:

Let the maturity period be n months, 

P be the money deposited every month which is Rs.1000 

and r be the rate of interest per annum which is 10%.

Now, the interest I received at the end of maturity is calculated by the following formula:

I=P×24n(n+1)×100r

We are given I=5500, so 

substituting the values, we get

⇒5550=1000×24n(n+1)×10010

⇒n(n+1)=1005550×24=1332

⇒n2+n−1332=0

⇒n2+37n−36n−1332=0

⇒(n−36)(n+37)=0

⇒n=36, −37

Since the maturity period cannot be negative, n=36.

Therefore, the total time for which the account was held was 36 months which is the same as 3 years. So the maturity period was 3 years.