Math Problem Statement

Akshay deposited Rs. 'x' in a bank at compound interest of 30% p.a. compounded annually. At the end of 2 years, he divided the sum received from the bank between Sonu and Monu in the ratio of 9:7, respectively. Sonu invested his share in a scheme offering simple interest of 24% p.a., for 10 years while Monu invested his share in another scheme offering < simple interest of 10% p.a., for 28 years and difference between the interest received by Sonu and Monu is Rs. 1014. Abhilash invested Rs. 'x + 608' in a scheme offering compound interest of R% p.a. compounded annually for 2 years and received an interest which is equal to the interest earned by Sonu if he would have invested Rs. 1183 less than the amount received by him from Akshay at simple interest of (3R/5) % p.a. for 6 years.

If Sonu and Monu entered in a partnership with Rs. 6000 and Rs. 9000. After 5 months Monu left and Akshay joined with capital Rs. 6000 less than Monu. If at the end of year profit of Akshay was Rs. 49 less than the amount received by Monu from Akshay, then find the total profit at the end of year?

Solution

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Math Problem Analysis

Mathematical Concepts

Compound Interest
Simple Interest
Ratios
Partnership Profit Sharing

Formulas

Compound Interest Formula: A = P(1 + r/100)^t
Simple Interest Formula: I = P * (r * t) / 100
Ratio for Profit Sharing

Theorems

Interest Calculation in Compound and Simple Interest
Profit Sharing in Partnerships

Suitable Grade Level

Grades 11-12