Ashifur September 9, 2023 - 20:19
Problem: Mr. Karim deposited a certain amount of money for a fixed period of time. On maturity, he received a total of Tk. 45,000 when the ratio of interest and investment became 2: 5. If the interest rate was 3.6%, calculate the time period for which the money was invested.

View all: BANGLADESH DEVELOPMENT BANK LTD (SO) | ARTS (DU) WRITTEN QUESTION (MATH) SOLVE | 2018

Correct Answer: 11.11.yrs.

Explanation:

Let, Here, Interest, I = 2x

Investment, P = 5x

R = 3.6 %

T =?

Total amount = 2x + 5x = 7x

According to the question,73x = 45000

=> x $\frac{45000}{7}$

=> x = 6428.57

Investment, P = 5x = 5 X 6428.57 = 32142.85 Tk

Interest, I = 2x = 2 X 6428.57 = 12857.14Tk

Time, T = $\frac{100\times 1}{PR}$= $\frac{100\times 12851.14}{32142.85\times 3.6}$

= 11.11 yrs

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