Gopal borrows Rs. X from Ankit at 8% annual interest. He then adds Rs. Y of his own money and lends Rs. X+Y to Ishan at 10% annual interest. At the end of the year, after returning Ankit’s dues, the net interest retained by Gopal is the same as that accrued to Ankit. On the other hand, had Gopal lent Rs. X+2Y to Ishan at 10%, then the net interest retained by him would have increased by Rs. 150. If all interests are compounded annually, then find the value of X + Y.
Started 2 weeks ago by Shashank in
Explanatory Answer
Let us draw a flow diagram to understand the transaction
Gopal receives 10% of X + Y from Ishan as interest, from which he pays the interest of 8% of X to
Ankit
So, Gopal would gain 2% of X + 10% of Y as interest and Ankit would gain 8% Interest
Its given that both the interest values are same, so 2% X + 10% Y = 8% X
3% X = 5% Y --- (1)
Its also given that, if Gopal lend Rs. X + 2Y to Ishan at 10% interest, the net interest retained
would increase by Rs. 150
So, the increase in 10% Y accounts for Rs. 150
10% Y = 150 => Y = Rs. 1500
Substituting the value in (1), we get 5 × 1500 = 3 × X => X = 2500
So, X + Y = 2500 + 1500 = Rs 4000
-
No one is replied to this question yet. Be first to reply!
