Rs 260200 is divided between Ram and Shyam so that the amount that Ram receives in 3 years is the same as that Shyam receives in 6 years. If the interest is compounded annually at the rate of 4% per annum then Ram's share is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Rs. 137745
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Understanding |
Application |
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Suppose the share of Ram = Rs. A So, Share of Shyam = Rs. (260200 – A) |
Now, A × (1 + 4/100)3 = (260200 – A) × (1 + 4/100)6 ⇒ (1 + 4/100)3 = A/(260200 – A) ⇒ A/(260200 – A) = 1.124864 ⇒ A = 292689.6128 – 1.124864A ⇒ 2.124864A = 292689.6128 ⇒ A = 137745.1 Hence, Share of Ram = Rs. 137745 |