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The rates of interest offered by two banks BOI and SBI are 8% and 44% per annum at compound interest. Mohan deposits certain but different…

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The rates of interest offered by two banks BOI and SBI are 8% and 44% per annum at compound interest. Mohan deposits certain but different sum of money in both the banks. After three years, he received equal amounts from both the banks. The ratio of amounts invested in BOI and SBI respectively are:
  • A44 ∶ 8
  • B64 ∶ 8
  • C125 ∶ 64
  • D64 ∶ 27
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Let he deposits Rs. B in BOI and Rs. S in SBI.

Amount = $(Principal\left\{ {{{\left( {1\; + \;Rate\% } \right)}^{time}}} \right\})$

Using the above formula,

Amount at BOI = B (1 + 8%)3 = B (1.08)3

Amount at SBI = S (1 + 44%)3 = S (1.44)3

After three years, the amounts become equal.

∴ B (1.08)3 = S (1.44)3

$(\begin{array}{l}
\Rightarrow {\rm{\;}}\frac{B}{S}\; = \;\frac{{{{\left( {1.44} \right)}^3}}}{{{{\left( {1.08} \right)}^3}}}\; = \;{\left( {\frac{{1.44}}{{1.08}}} \right)^3}\\
\Rightarrow {\rm{\;}}\frac{B}{S}\; = \;{\left( {\frac{4}{3}} \right)^3}\; = \;\frac{{64}}{{27}}
\end{array})$

∴ B ? S = 64 ? 27