Puneet and Vimal invested Rs. A and Rs. B in simple and compound interest respectively. The amount invested by Puneet becomes Rs. 26000 in 3 years and that invested by Vimal becomes Rs. 25920 in 3 years. The difference of rate of interests on the investments by Vimal and Puneet is 10%. Ratio of A an
Puneet and Vimal invested Rs. A and Rs. B in simple and compound interest respectively. The amount invested by Puneet becomes Rs. 26000 in 3 years and that invested by Vimal becomes Rs. 25920 in 3 years. The difference of rate of interests on the investments by Vimal and Puneet is 10%. Ratio of A and B is 4 : 3.
From the given statement which of the following can be determined?
A. Sum of rate of interests on the investments by Vimal and Puneet.
B. Value of A.
C. Value of B.
D. Difference of interest amounts obtained by Vimal and Puneet.
1). Only A and D
2). Only B and C
3). All of them
4). Only A, B and C
1 answers
Suppose ‘R’ and ‘r’ are the rate of interest on investments by Vimal and Puneet;
According to the given data:
26000 = A + [A × r × 3]/100
⇒ A × [1 + 3r/100] = 26000 ---- (1)
And
25920 = B × [1 + R/100]3 ---- (2)
Dividing both the equations:
$( \Rightarrow \frac{{{\rm{A\;}} \times {\rm{\;}}\left[ {1{\rm{\;}} + {\rm{\;}}3{\rm{r}}/100} \right]}}{{{\rm{B\;}} \times {\rm{\;}}{{\left[ {1{\rm{\;}} + {\rm{\;R}}/100} \right]}^3}}} = \frac{{26000}}{{25920}})$
Given that A : B = 4 : 3 and
R – r = 10
If we put these values in the equation, we can get the values of R and r;
If we get the rate of interest, we can calculate the investments A & B too.
After getting the investments, we can also get the difference of interest amount.
∴ All the values can be determined.