Multiple choice general knowledge math & puzzles

Rakesh purchased a plot for Rs. 2.3 lakh and Ashish purchased a flat at Rs. 2.47 lakh. The respective annual rates at which the prices of the plot and the flat increased were 10% and 5%. After two years they exchanged their belongings and one paid the other the difference. Then

  1. Rakesh paid Rs. 5982 to Ashish

  2. Ashish paid Rs. 5982.50 to Rakesh

  3. Ashish paid Rs. 6090 to Rakesh

  4. Ashish paid Rs. 5695.50 to Rakesh

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

After 2 years: Rakesh's plot value = 2.3 × 1.1² = 2.3 × 1.21 = Rs. 2.783 lakh. Ashish's flat value = 2.47 × 1.05² = 2.47 × 1.1025 = Rs. 2.723175 lakh. When they exchange, Rakesh gives property worth Rs. 2.783 lakh and receives property worth Rs. 2.723175 lakh. The difference is 2.783 - 2.723175 = Rs. 0.059825 lakh = Rs. 5982.50. Since Rakesh's property was worth more, Ashish must pay Rakesh the difference.

Keep practicing — related questions