Question : Rs. 16,820 is divided between two brothers of age 27 years and 25 years. They invested their money at 5% per annum compound interest in such a way that both will receive equal money at the age of 40 years. The share (in Rs.) of elder brother is:
Option 1: Rs. 8,280
Option 2: Rs. 8,410
Option 3: Rs. 8,820
Option 4: Rs. 8,000
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Correct Answer: Rs. 8,820
Solution : Suppose Share of elder brother = Rs. $y$ ∴ Share of younger brother = Rs. $(16820 – y)$ Using the given formula, $A=P(1+\frac{R}{100})^n$ According to the question, $y(1+\frac{5}{100})^{13}=(16820-y)(1+\frac{5}{100})^{15}$ ⇒ $y=(16820-y)(1+\frac{5}{100})^{2}$ ⇒ $y=(16820-y)(\frac{21}{20})^{2}$ ⇒ $y(\frac{20}{21})^{2}=(16820-y)$ ⇒ $\frac{400y}{441}+y=16820$ ⇒ $\frac{400y+441y}{441}=16820$ ⇒ $\frac{881y}{441}=16820$ ⇒ $y = 441×20 = 8820$ Hence, the answer is Rs. 8,820.
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Question : A man invested a sum of money at compound interest. It amounted to Rs. 2420 in 2 years and Rs. 2662 in 3 years. Find the sum:
Option 1: Rs. 1000
Option 2: Rs. 2000
Option 3: Rs. 5082
Option 4: Rs. 3000
Question : A sum of money invested at compound interest amounts to Rs. 800 in 3 years and to Rs. 840 in 4 years. The rate of interest per annum is:
Option 1: $2\frac{1}{2}$%
Option 2: $4$%
Option 3: $5$%
Option 4: $6\frac{2}{3}$%
Question : The Principal that yields a Compound Interest of Rs. 420 in the second year at 5% per annum is:
Option 1: Rs. 7,000
Option 2: Rs. 5,000
Option 3: Rs. 8,000
Option 4: Rs. 6,000
Question : The compound interest earned in two years at 15% per annum is Rs. 20,640. What is the sum invested (in Rs.)?
Option 1: 64000
Option 2: 60000
Option 3: 56000
Option 4: 52000
Question : A sum of money invested at 20% compound interest (compounded annually). It would fetch Rs. 723 more in 2 years if interest is compounded half-yearly. The sum is:
Option 1: Rs. 15,000
Option 2: Rs. 30,000
Option 3: Rs. 20,000
Option 4: Rs. 7,500
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