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A sum of rupees 4420 is to be divided between rakesh and prakash in such a way that after 5 years and 7 years respectively the amount they get is equal. The rate of interest is 10 percent. Find the share of rakesh and prakash
  • a)
    2000, 2420
  • b)
    2420, 2000
  • c)
    2480, 2420
  • d)
    2210, 2210
  • e)
    None of these
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
A sum of rupees 4420 is to be divided between rakesh and prakash in su...
Let the share of rakesh and prakash be R and P
R*(1+10/100)5 = (4420 – R)*(1+10/100)7 We get R = 2420, so P = 2000
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Most Upvoted Answer
A sum of rupees 4420 is to be divided between rakesh and prakash in su...
Let the share of rakesh and prakash be R and P
R*(1+10/100)5 = (4420 – R)*(1+10/100)7 We get R = 2420, so P = 2000
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Community Answer
A sum of rupees 4420 is to be divided between rakesh and prakash in su...
Given: Total amount = Rs. 4420, Rate of interest = 10%, Time for Rakesh = 5 years, Time for Prakash = 7 years

Let the share of Rakesh be x. Then, the share of Prakash will be (4420 - x).

Amount received by Rakesh after 5 years = x(1 + 10/100)^5 = 1.61x
Amount received by Prakash after 7 years = (4420 - x)(1 + 10/100)^7 = 1.97(4420 - x)

As per the question, both amounts should be equal. So, we can write:

1.61x = 1.97(4420 - x)
1.61x = 8717.4 - 1.97x
3.58x = 8717.4
x = 2420

Therefore, the share of Rakesh is Rs. 2420 and the share of Prakash is Rs. (4420 - 2420) = Rs. 2000.

Hence, option B is the correct answer.
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