rs. 2379 is divided into 3 parts so that the amounts after 2, 3 and 4 years, respectively, are equal. what is the first part if the interest rate is 5% per annum on simple interest?
To find the first part of the amount, we need to understand the concept of simple interest. Simple interest is calculated using the formula:
I = P * r * t,
where:
I is the interest earned,
P is the principal amount (the first part we are trying to find),
r is the interest rate, and
t is the time in years.
In this case, we are given that the amount after 2, 3, and 4 years are equal. Let’s assume the principal amount is P, which is the first part we are trying to find.
After 2 years, the amount will be P + (P * 5% * 2) = P + 0.1P = 1.1P.
After 3 years, the amount will be P + (P * 5% * 3) = P + 0.15P = 1.15P.
After 4 years, the amount will be P + (P * 5% * 4) = P + 0.2P = 1.2P.
Since we are given that the amounts after 2, 3, and 4 years are equal, we can equate these expressions:
1.1P = 1.15P = 1.2P.
Now, we can solve for P:
1.1P = 1.15P,
(1.15 - 1.1)P = 0,
0.05P = 0,
P = 0 / 0.05,
P = 0.
Therefore, the first part (principal amount) in this case is 0. Please note that the given information and calculations result in an inconsistent equation.