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What is the total compound interest on Rs. 45000 for 3 years when the sum is divided into a ratio of 4 : 5 and rate of interest on a small sum is 10% and 20% on the large sum? (Compounded annually)
Rs. 20010
Rs. 24820
Rs. 25630
Rs. 26400
None of these
To calculate the total compound interest on the given amounts:
- Total Sum: Rs. 45000, divided into a ratio of 4:5.
- Small Sum (4 parts): \((4/9) \times 45000 = 20000\)
- Large Sum (5 parts): \((5/9) \times 45000 = 25000\)
- Interest on Small Sum: 10% per annum
- Compound Interest = \(20000 \times (1 + 10/100)^3 - 20000 = 6620\)
- Interest on Large Sum: 20% per annum
- Compound Interest = \(25000 \times (1 + 20/100)^3 - 25000 = 18200\)
- Total Compound Interest: \(6620 + 18200 = 24820\)
The correct option is:
- Option 2: Rs. 24820
By: Parvesh Mehta ProfileResourcesReport error
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