Latest Elitmus Aptitude Question SOLUTION: A sum is divided between A and B in the ratio of 1 : 2. A purchased a car from his part, which depreciates 14 2/7% per annum and B deposited his amount in a bank, which pays him 20

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(#M40157139) ELITMUS Numerical Ability question Keep an EYE

A sum is divided between A and B in the ratio of 1 : 2. A purchased a car from his part, which depreciates 14 2/7% per annum and B deposited his amount in a bank, which pays him 20% interest per annum compounded annually. By what percentage will the total sum of money increase after two years due to this investment pattern (approximately).

Asked In Elitmus Sniper (7 years ago)

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Aiman Shakeel  (7 years ago)

Let the total money=300
A's part=100
B's part=200
After 2 years A's part=73.46 (As it depreciates by 14.29% per annum)
After 2 years B's part=288 (using the compound interest formula, A=P(1+r/n)^nt), where
P=200,r=0.2,n=1,t=2)
So, After 2 years total amount=361.46
Therefore % increase in money=(361.46-300)*100/300=20.48%

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amar kakde  (7 years ago)

A's share=100
B's share=200
After 2 years A's share=71.428(100-si)
si(A)=200/7
After 2 years B's share=288(by compound interest)
% increase in total money=(359.428-300)/300
ans=19.81%

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