Question

Two friends michel and carol got a total bonus of $31500. Michel deposited the bonus in a savings account which gives simple interest at the rate of n% per annum, and carol deposited her bonus in an investment plan which gives simple interest at the rate of 3n2% per annum. If after 3 years total interest amount received by michel was 43 times of that received by carol, the bonus received by carol was how much less than that received by michel?

Answer 1

Answer:

10500

Step-by-step explanation:

Bonus received by both M+C = 31500

Let the bonus received by Carol be x.

Then the bonus received by Michel is 31500-x.

Now, (31500−x)∗n∗3100=4∗x∗3n∗3100∗2∗3(31500−x)∗n∗3100=4∗x∗3n∗3100∗2∗3

31500n-xn = 2xn

3x = 31500

x = 10500.

The bonus received by Carol is 10500

Bonus received by Michel is 21000

Difference is 10500

Answer 2

Answer:

$ 10500

Make correction like:

Two friends Michel and Carol got a total bonus of $31500. Michel deposited the money in a savings account which gives simple interest at the rate of n% per annum, and Carol deposited her amount in an investment plan which gives simple interest 3n/2% per annum. If after 3 years total interest amount received by Michel was 4/3 times of that received by Carol, the bonus received by Carol was how much less than that received by Michel?

Step-by-step explanation:

let bonus of michel=100x

then bonus of  carlo=31500-100x

interest of Michel=1/100*(100x*3*n)=3nx

interest of Carlo=1/100*(31500-100x)*3*3n/2=9n/2*(315-x)

interest of Michel=4/3*interest of Carlo

3nx=4/3*9n/2*(315-x)

3nx=6n(315-x)

x=2*(315-x)

x=630-2x

3x=630

x=210

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Hence Michel's bonus=100x= 210*100=$ 21000

and Carlo's bonus=$31500-21000=$ 10500

So the bonus received by carol is less then michel by

21000-10500

= $ 10500