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A man received Rs.3456 when he invests P...

A man received Rs.3456 when he invests P at 12% p.a. at Si for 3 years. If he invested Rs. (P + 1400) at15% p.a. at Cl compounding annually for 2 years then find the interest received by him.

A

Rs.3515.5

B

Rs.3960.5

C

Rs.3725.5

D

Rs.3547.5

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem step by step, we will break it down into two parts: calculating the principal amount (P) using simple interest, and then calculating the compound interest for the second investment. ### Step 1: Calculate the Principal Amount (P) Given: - Total amount received after 3 years (A) = Rs. 3456 - Rate of interest (R) = 12% per annum - Time (T) = 3 years Using the formula for Simple Interest (SI): \[ SI = \frac{P \times R \times T}{100} \] The total amount (A) is given by: \[ A = P + SI \] Substituting the SI formula into the equation: \[ A = P + \frac{P \times R \times T}{100} \] This can be rewritten as: \[ A = P \left(1 + \frac{R \times T}{100}\right) \] Substituting the known values: \[ 3456 = P \left(1 + \frac{12 \times 3}{100}\right) \] Calculating the term in the parentheses: \[ 1 + \frac{36}{100} = 1.36 \] Now, substituting back: \[ 3456 = P \times 1.36 \] To find P, divide both sides by 1.36: \[ P = \frac{3456}{1.36} \approx 2544 \] ### Step 2: Calculate the Compound Interest (CI) Now, the new principal amount for the second investment is: \[ P + 1400 = 2544 + 1400 = 3944 \] Given: - Rate of interest (R) = 15% per annum - Time (T) = 2 years Using the formula for Compound Interest (CI): \[ CI = P \left(1 + \frac{R}{100}\right)^T - P \] Substituting the values: \[ CI = 3944 \left(1 + \frac{15}{100}\right)^2 - 3944 \] Calculating the term in the parentheses: \[ 1 + \frac{15}{100} = 1.15 \] Now, squaring it: \[ (1.15)^2 = 1.3225 \] Now substituting back into the CI formula: \[ CI = 3944 \times 1.3225 - 3944 \] Calculating the first term: \[ 3944 \times 1.3225 \approx 5218.78 \] Now, subtracting P: \[ CI = 5218.78 - 3944 \approx 1274.78 \] ### Final Answer: The interest received by him from the second investment is approximately Rs. 1274.78.
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