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Divide ₹ 10230 into two parts such that the first part after 10 years is equal to the second part after 7 years, compound interest being 20% per annum compounded yearly.
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- ₹ 4150 ; ₹ 6080
- ₹ 3950 ; ₹ 6280
- ₹ 3750 ; ₹ 6480
- ₹ 3550 ; ₹ 6680
Correct Option: C
Let the first part be p and the second part q.
The first part after 10 years = p | ![]() | 1 + | ![]() | 10 | |
100 |
The second part after 7 years = q | ![]() | 1 + | ![]() | 7 | |
100 |
As given in the problem these two amounts are equal.
So,
q | ![]() | 1 + | ![]() | 7 | = p | ![]() | 1 + | ![]() | 10 | ||
100 | 100 |
⇒ | = | ![]() | 1 + | ![]() | 3 | ||
p | 100 |
⇒ | = | ||
p | 125 |
and we have p + q = ₹ 10230
Using the ratio formula
q = | ×10230 = ₹ 6480 | |
216 + 125 |
p = | ×10230 = ₹ 3750 | |
216 + 125 |