Answer:
- amount lent: ₹6000
- interest received: Kamal, ₹600; Anand, ₹615.
Step-by-step explanation:
For principal P invested at simple interest rate r, the returned value in t years is ...
A = P(1 +rt)
If K is Kamal's returned value, the given numbers tell us ...
K = P(1 +0.05·2) = 1.1P
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For principal P invested at compound interest rate r, with interest compounded annually for t years, the returned value is ...
A = P(1 +r)^t
If A is Anand's returned value, the given numbers tell us ...
A = P(1.05)² = 1.1025P
This latter amount is RS.15 more than the former one, so we have ...
1.1025P = 1.1P +15
0.0025P = 15 . . . . . . . . subtract 1.1P
P = 6000 . . . . . . . . . . . divide by 0.0025 . . . . the amount lent
Kamal received 1.1P -P = 0.1P = 600 on the investment.
Each lent ₹6000. Kamal received ₹600 in interest; Anand received ₹615 in interest.
