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Time value of money

1/7 of a money is deposited at 4% per annum , ½ of a money deposited at 5% per annum and the remaining at the rate of 6%, then total interest gained 730 find deposit amount


Mirjavalli Shaik

Mirjavalli Shaik

CA Foundation

480

02-Jan-20 05:00

17

Answers (1)

Assume total Amount is X. Find out interest for 1/7th of X, 1/2 of X and balance amount. Total is 730. Frame an equation and solve it.


Suraj Lakhotia

Suraj Lakhotia

Admin

02-Jan-20 11:01