Present age of P is 15 years, and he invested Rs.4500 at 20% annual Compound Interest while Q invested Rs.5824 at 25% annual Compound Interest. When they both turn 18 years, interest amount received by both of them is same, then how old are Q at present?

Question

cdquestions Admin · Accepted Answer

The correct option is (B): 16 years. Let at present Q is 'x' years younger to become 18 years old. Interest amount received by P when he turns 18 years = 4500 * [(1.2)3-1] = Rs.3276 Interest amount received by Q when he turns 18 years = 5824 * [(1.25) x-1] = 3276 1.25x - 1 = $\frac{9}{16}$ 1.25x = ( $\frac{9}{16}$ ) + 1 1.25x = 1.5625 = 1.252 x = 2 Present age of Q=18-2=16 years.

Answer

<div>14 years</div>

Answer

<div>16 years</div>

Answer

<div>17 years</div>

Answer

<div>12 years</div>

Present age of P is 15 years, and he invested Rs.4500 at 20% annual Compound Interest while Q invested Rs.5824 at 25% annual Compound Interest. When they both turn 18 years, interest amount received by both of them is same, then how old are Q at present?

The Correct Option is B

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