Ravi lent a certain sum of money for 2 years at 5% simple interest. Pawan lent the same sum of money for the same time and at the same rate per cent compound interest. If Pawan received rupees 15 more than Ravi, find the amount of money lent by each and the interest received.

 

Asked by bhengraj68 | 16th May, 2019, 02:00: PM

Expert Answer:

begin mathsize 16px style Ravi space lent space straight a space certain space sum space of space money space for space 2 space years space at space 5 percent sign space simple space interest.
rightwards double arrow space straight I space equals space fraction numerator straight P space cross times space straight R space cross times straight N over denominator 100 end fraction
rightwards double arrow space straight I space space equals space fraction numerator straight P space cross times space 5 space cross times 2 over denominator 100 end fraction
rightwards double arrow straight I space space equals space fraction numerator straight P space over denominator 10 end fraction space space space.... space left parenthesis straight i right parenthesis
Pawan space lent space the space same space sum space of space money space for space the space same space time space and space at space the space same space rate space per space cent space compound space interest.
rightwards double arrow Compound space Interest space equals space straight A space minus space straight P space
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals space straight P open parentheses 1 space plus space straight r over 100 close parentheses to the power of straight n space space minus space straight P space
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals straight P open square brackets open parentheses 1 space plus space 5 over 100 close parentheses squared minus space 1 close square brackets
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals space fraction numerator 41 straight P over denominator 400 end fraction space space space space..... space left parenthesis ii right parenthesis
If space Pawan space received space rupees space 15 space more space than space Ravi.
rightwards double arrow space fraction numerator 41 straight P over denominator 400 end fraction space minus space fraction numerator straight P space over denominator 10 end fraction space space equals space 15 space space space space from space left parenthesis straight i right parenthesis space and space left parenthesis ii right parenthesis
rightwards double arrow space straight P space equals space 15 space cross times space 400 space equals space 6000 space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space..... space amount space of space money space lent space by space Ravi space and space Pawan
From space left parenthesis straight i right parenthesis comma space straight I space equals space fraction numerator straight P space over denominator 10 end fraction space equals space 6000 over 10 space equals space Rs. space 600 space space space space....... space Interest space received space by space Ravi
From space left parenthesis ii right parenthesis comma space straight I space equals space fraction numerator 41 straight P space over denominator 400 end fraction space equals space fraction numerator 41 space cross times 6000 over denominator 400 end fraction space equals space Rs. space 615 space space space space....... space Interest space received space by space Pawan

end style

Answered by Yasmeen Khan | 16th May, 2019, 03:06: PM