Dushyant and Aakriti invested the sum Rs. 52000 and Rs. 28000 at the rate of 45% p.a. and 35% p.a. respectively compuned annually. What will be the total compound interest earned by Dushyant and Aakriti after 3 years?
Answer & explanation
Correct answer: option 2
(45% = \(\frac{9}{20}\))
Dushyant: P : A
1st year 20 : 29
2nd year 20 : 29
3rd year 20 : 29
8000 24389
C.I. = 24389 - 8000 = 16389
Principal = 8000 ⇒×6.5 ⇒ 52000 (given)
Interest = 16389 × 6.5 = 106528.5
⇒ (35% = \(\frac{7}{20}\))
Aakriti : P : A
1st year 20 : 27
2nd year 20 : 27
3rd year 20 : 27
8000 19683
C.I. = 19683 - 8000 = 11683
Principal = 8000 ⇒×3.5 ⇒ 28000 (given)
Interest = 16389 × 3.5 = 40890.5
Total C.I. earned by both = 106528.5 + 40890.5 = 147419