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The difference between the compound interest and the simple interest for a certain sum of money at 7% in two years is Rs. 49. The same sum amount of money is invested by Rahul in a business with a partner in a ratio of 5 : 2 but only for three months whereas the other partner invests for the whole year. If the profit received by the other partner is Rs. 4800 calculate the profit received by Rahul.

The difference between the compound interest and the simple interest for a certain sum of money at 7% in two years is Rs. 49. The same sum amount of money is invested by Rahul in a business with a partner in a ratio of 5 : 2 but only for three months whereas the other partner invests for the whole year. If the profit received by the other partner is Rs. 4800 calculate the profit received by Rahul. Correct Answer Rs. 3000

Given:

Difference in C.I and S.I in 2 years at 7% = 49

Profit received by other person = Rs. 4800

Formula:

Difference between C.I and S.I in 2 years = PR2/1002

Calculation:

Let the sum be s

49 = (s × 72)/1002

s = (1002 × 49)/49

s = 100 × 100 = Rs. 10,000

Rahul invested for 3 months

Total investment for Rahul = 3 × 10000 = Rs. 30,000

The other partners investment = 2/5 × 10000 = Rs. 4,000

He invested for 12 months

Total investment = 12 × 4000 = Rs. 48,000

Ratio of the profit = 30000 : 48000 = 15 : 24

Let the total profit be x

Profit of other partner = (24/39)x

(24/39)x = 4800

x = (4800 × 39)/24

x = 7800

Profit Rahul gets = 15/39 × 7800

∴ Profit Rahul get is Rs. 3000

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