Ram and Shyam together lent Rs. 3364 at 5% compound interest, compounded annuslly. The amount Ram gets at the end of three years is the same as Shyam gets at the end of fiv
e years. The share of Ram in principal amount is тАЛ
Answers
Given : Ram and Shyam together lent Rs. 3364 at 5% compound interest, compounded annuslly.
The amount Ram gets at the end of three years is the same as Shyam gets at the end of five years.
To Find : The share of Ram in principal amount
Solution:
Ram Amount = P Rs
Shyam Amount = 3364 - P Rs
A = P ( 1+ R/100)ⁿ
R = 5 %
The amount Ram gets at the end of three years
= P ( 1 + 5/100)³
= P ( 1.05)³
The amount Shyam gets at the end of 5 years
= (3364 - P) ( 1 + 5/100)⁵
= (3364 - P) ( 1.05)⁵
(3364 - P) ( 1.05)⁵ = P ( 1.05)³
=> (3364 - P) ( 1.05)² = P
=> (3364 - P) ( 1.1025) = P
=> 3,708.81 - 1.1025P = P
=> 2.1025P = 3,708.81
=> P = 1,764
The share of Ram in principal amount is 1,764 Rs
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