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Time value of money

A certain sum of money amounted to rs. 765 at 8% in a certain time. In the same time rs. 640 amounted rs. 750 at 5% per annum simple interest. Find the sum


Pranav Sarma

Pranav Sarma

CA Inter

3K+

16-Apr-20 12:07

142

Answers (5)

I think 408


Lucky Garg

Lucky Garg

CA Foundation

2K+

17-Apr-20 14:45

(P x T x 0.08)+ P = 765 i.e P ( 1+ T x 0.08) = 765 - Eq 1 (640 x T x 0.05) + 640 = 750 - Eq 2 From Eq 2 T = 3.4375 months Substituting T in Eq 1 P ( 1+ T x 0.08) = 765 P ( 1+ 3.4375 x 0 .08) = 765 P(1 +0 .275) = 765 P = 600


Sriram Somayajula

Sriram Somayajula

Admin

17-Apr-20 16:42

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