Question

Two partners A and B together lend Rs 2523 at 5% compounded annually. The amount A gets at the end of 3 years is the same as B gets at the end of 5 years. Determine the share of A.

(a) Rs 1200

(b) Rs 1323

(c) Rs 1450

(d) Rs 1563

Answer 1

Correct option is (b) Rs 1323

Total money deposited = Rs. 2523

Let the two different amounts be A and B respectively.

Then we have,

A(1+5/100)³ = B(1 + 5/100)⁵

1.1576A = 1.276 B

A = 1.276/1.1576 B = 1.102 B

Now, A + B = 2523

So, 2.102B = 2523

B = Rs. 1200

A = Rs. 1323