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Rahul and Mohit invested Rs. 16000 and Rs. 20000 in a business. After four months Rahul and Mohit both added Rs. 4000 in their initial investment. At the end of one year the total profit was Rs. 1,55,000. If Rahul and Mohit invested their profit share on compound interest at the rate of 20% and 10% respectively then find difference between interests got by both at the end of the two years?


1. Rs. 12,000
2. Rs. 13,500
3. Rs. 14500
4. Rs. 12,950
5. None of these

1 Answer

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Correct Answer - Option 4 : Rs. 12,950

Given:

Investment of Rahul = Rs. 16000 

Investment of Mohit = Rs. 20000

Total profit = Rs. 1,55,000

Formula:

Profit = investment × time period

Calculation;

Ratio of profit of Rahul and Mohit

= [(16000 × 4 ) + ( 16000 + 4000 ) × 8 ] ∶ [(20000 × 4 ) + ( 20000 + 4000 )× 8]

⇒ 56 ∶ 68

⇒ 14 ∶ 17

Profit share of Rahul = 155000 × 14/31 = Rs. 70,000

Profit share of MOhit = 155000 × 17/31 = Rs. 85,000

Now, equivalent CI of two year at the rate of 20%

⇒ 20 + 20 + ( 20 × 20 )/100 = 44%

Equivalent CI of two year at 10%

⇒ 10 + 10 + (10 × 10)/100 = 21 %

Difference between compound interest got by Rahul and Mohit

=( 70000 × 44/100 ) – ( 85000 × 21/100 )

⇒ 30800 – 17850 = Rs. 12,950

∴ Difference between interests got by both at the end of two year is Rs. 12,950 

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