Question

Kamal and Anand each lent the same sum of money for 2 years at 5% at simple interest and compound interest respectively. Anand received Rs. 15 more than Kamal. Find the amount of money lent by each and the interest received.

• A. Rs. 6,000; Kamal = Rs. 600 and Anand = Rs. 615
• B. Rs. 8,000; Kamal = Rs. 600 and Anand = Rs. 615
• C. Rs. 6,000; Kamal = Rs. 800 and Anand = Rs. 615
• D. Rs. 6,000; Kamal = Rs. 600 and Anand = Rs. 610

Answer 1

The correct option is A Rs. 6,000; Kamal = Rs. 600 and Anand = Rs. 615

Lets money lend by kamal and anand is x
so intrest recived by kamal=$x\left(\frac{5\times 2}{100}\right)=\frac{x}{10}$Rs
intrerst receive by anand=$x{(1+\frac{5}{100})}^2$-x= $x\left(\frac{105}{100}\right)\left(\frac{105}{100}\right)$-x=$\frac{441x}{400}$-x
AS per Ques. kamal and anand intt diff 15 Rs
so $\frac{441x}{400}-x$-$\frac{x}{10}$=15
441x-400x-40x=6000
x=6000
so each lend Rs 6000
Intt of kamal=$\frac{6000}{10}$=600 Rs
Intt of Anand=$6000{(1+\frac{5}{100})}^2$-6000=615 Rs