Solutions
Given:
Total interest earned = Rs.9280.
Initial ratio = 5:4.
Simple Interest Rate = 10% for 2 years.
Compound Interest (Part 1) = 20% for 2 years.
Simple Interest (Part 2) = 30% for 3 years.
Formula:
Simple Interest = P × R × T / 100.
Compound Interest = P(1 + R/100)T - P.
Where P = Principal, R = Rate, T = Time.
Calculation:
⇒ Total sum received after 2 years at 10% simple interest
⇒ K + (K × 10 × 2 / 100) = K(1 + 0.20) = 1.2K
⇒ Divided amounts ratio (5:4), Total parts = 9.
⇒ First part = (5/9) × 1.2K, Second part = (4/9) × 1.2K.
⇒ Compound Interest for first part for 2 years at 20% = (5/9) × 1.2K [(1 + 0.20)2 - 1].
⇒ Simple Interest for second part for 3 years at 30% = (4/9) × 1.2K × 0.30 × 3.
⇒ Total interest = (5/9) × 1.2K × 0.44 + (4/9) × 1.2K × 0.90.
⇒ 9280 = 0.44 × (5/9) × 1.2K + 0.90 × (4/9) × 1.2K.
⇒ 9280 = 0.2933K + 0.4800K.
⇒ 9280 = 0.7733K.
⇒ K = 9280 / 0.7733.
⇒ K = Rs. 12,000.
Hence, the value of K is Rs. 12,000.
Shortcut Trick
Principal = Rs. K, Time = 2 years, Interest = 10%
Simple Interest = PRT/100 = 20K/100 = 1K/5
Amount = SI + Principal
= 1K/5 + K = 6K/5
He divide this amount in the ratio 5 : 4.
According to question,
5/9 × 6K/5 × [(1 + 20/100)2 - 1] + 4/9 × 6K/5 × 30/100 × 3 = 9280
After solving this we get,
K = 12000