Discussion of Question with ID = 041 under Compound-Interest

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Question

Rs. 808 is divided into parts such that the compound amount on first part after 6 years is same as that for the other part after 7 years. What is the first part if the rate of interest in both the cases is 2%?

A

Rs. 408.

B

Rs. 508.

C

Rs. 308.

D

Rs. 608.

Soln.
Ans: a

Let the parts P and (808 - P). We have P × $(1 + 2/100)^6$ = (808 - P) × $(1 + 2/100)^7$. Cancelling, we get P = (808 - P) × (1 + 2/100). Simplifying, P = ${808 × (100 + 2)}/(200 + 2)$, which gives P = Rs. 408.

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