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Fahim and Farhan together earned Rs. 37,570 from a business venture.

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Bunuel
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Fahim and Farhan together earned Rs. 37,570 from a business venture. [#permalink] New post   16 Jun 2021, 06:45
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Fahim and Farhan together earned Rs. 37,570 from a business venture. They divided it and each deposited his share in a bank. At the end of 9 years the amount Farhan had in the bank was the same as the amount Fahim had at the end of 7 years. If the interest was compounded annually at 10% per annum, what was Farhan’s share of the money earned from the business venture?

(A) Rs. 14,174
(B) Rs. 16,437
(C) Rs. 17,000
(D) Rs. 18,785
(E) Rs. 20,570
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C
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Re: Fahim and Farhan together earned Rs. 37,570 from a business venture. [#permalink] New post   21 Jun 2021, 05:20
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Fahim(X) = \(X(1 + \frac{R}{100})^T = X(1 + \frac{10}{100})^7\)

Farhan(Y) = \(Y(1 + \frac{R}{100})^T = Y(1 + \frac{10}{100})^9\)

=> X + Y = 37, 570

=> \(X(1 + \frac{10}{100})^7 = Y(1 + \frac{10}{100})^9\)

=> \(\frac{X }{ Y} = 1.21\)

=> X = 1.21Y

=> 1.21Y + Y = 37, 570

=> Y = 17,000

Answer C
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Re: Fahim and Farhan together earned Rs. 37,570 from a business venture. [#permalink] New post   21 Jun 2021, 10:38
Imo C

Using basic formula CI = P(1+r/n)^nt .
n is one here since its compounded Annually.
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Re: Fahim and Farhan together earned Rs. 37,570 from a business venture. [#permalink] New post   22 Jun 2021, 03:35
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Let Fahim's share be x
and Farhan's share be y
x + y = 37570
\(x(1 + \frac{1}{10})^7 = y (1+\frac{ 1}{10})^9 \)

Solve for y
y = 17000
C is the answer


Bunuel wrote:
Fahim and Farhan together earned Rs. 37,570 from a business venture. They divided it and each deposited his share in a bank. At the end of 9 years the amount Farhan had in the bank was the same as the amount Fahim had at the end of 7 years. If the interest was compounded annually at 10% per annum, what was Farhan’s share of the money earned from the business venture?

(A) Rs. 14,174
(B) Rs. 16,437
(C) Rs. 17,000
(D) Rs. 18,785
(E) Rs. 20,570
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Re: Fahim and Farhan together earned Rs. 37,570 from a business venture. [#permalink] New post   22 Jun 2021, 04:45
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F1 + F2 = 37570
Let F1 has amount = 37570 - x
F2 has amount = x

Given amount F2 gets in 9 years = Amount F1 gets in 7 years
Rate = 10% for both
Amount of F2 = p(1 + r/100)^n

A1 = x(1+10/100)^9

A2 = 37570 - x (1+10/100)^7

A1 = A2
x(1+10/100)^9 = 37570 - x (1+10/100)^7
1.21 x = 37570 - x
2.21 x = 37570
x = 17000

IMO C
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Re: Fahim and Farhan together earned Rs. 37,570 from a business venture. [#permalink] New post   07 Oct 2023, 02:01
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Re: Fahim and Farhan together earned Rs. 37,570 from a business venture. [#permalink]
07 Oct 2023, 02:01
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