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Ram lent Rs.2.7 lakh amount to Pawan and Pooja in ratio of 5 : 4, Pawan and Pooja payback its amount after 3 years at 10% and 15% annual compound interest respectively, At the end of time duration the amount received by Ram from Pawan was how much more than that received from Pooja?

Ram lent Rs.2.7 lakh amount to Pawan and Pooja in ratio of 5 : 4, Pawan and Pooja payback its amount after 3 years at 10% and 15% annual compound interest respectively, At the end of time duration the amount received by Ram from Pawan was how much more than that received from Pooja? Correct Answer Rs.17,145

Given:

Ram lent Rs.2.7 lakh amount to Pawan and Pooja

Lent money to Pawan and Pooja in ratio of 5 : 4

Pooja payback its amount after 3 years at 10% annual compound interest

Pawan payback its amount after 3 year at 15% annual compound interest

Concept:

A = P × (1 + R/100)T

A = Final amount

P = Initial amount

R = Rate of interest

T = Time

Calculation:

Lent money to Pawan and Pooja in ratio of 5 : 4

Lent by Pawan = (5/9) × 270000

⇒ Rs.1,50,000

Lent by Pooja = (4/9) × 270000

⇒ Rs.1,20,000

Pawan payback to Ram = 150000 × (1 + 10/100)3

⇒ 150000 × (11/10) × (11/10) × (11/10)

⇒ Rs.1,99,650

Pooja payback to Ram = 120000 × (1 + 15/100)3

⇒ 120000 × (23/20)3

⇒ 120000 × (23/20) × (23/20) × (23/20)

⇒ Rs.1,82,505

Pawan payback to Ram – Pooja payback to Ram = 199650 – 182505

⇒ Rs.17,145

∴ At the end of time duration the amount received by Ram from Pawan was Rs.17145 more than that received from Pooja.

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