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Compound Interest - XAT 2020 / TANCET 2020 Practice

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This question is an interesting compound interest question.
Rs. 5887 is divided between Shyam and Ram, such that Shyam's share at the end of 9 years is equal to Ram's share at the end of 11 years, compounded annually at the rate of 5%. Find the share of Shyam.

(1) 2088 (2) 2000
(3) 3087 (4) None of these
Correct Answer - (3)
Solution:


Shyam's share * (1+0.05)9 = Ram's share * (1 + 0.05)11

Shyam's share / Ram's share = (1 + 0.05)11 / (1+ 0.05)9 = (1+ 0.05)2 = 441/400

Therefore Shyam's share = (441/841) * 5887 = 3087.




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