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Ashok invests a certain sum of money at 20% per annum, compounded yearly. Geeta invests an equal amount of money at the same rate of interest per annum compounded half- yearly. If Geeta gets Rs. 33 more than Ashok in 18 months, calculate the money invested. |
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Answer» Let money invested=P Amount`(A_1)=P(1+R/100)^t` `A_1=P(1+20/100)^(3/2)` `A_1=P(1+1/5)^(3/2)` `A_1=P(6/5)(11/10)` `A_2=P(1+20/(200))^(3/2*2)` `A_2=P(1+1/10)^3` subtracting equation 1 from equation 2 `P(1331/1000)-P(6/5)(11/10)=33` `P(1.331-66/50)=33` `P(1.331-1.32)=33` `P=3000Rs`. |
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