Question
A man wants to invest Rs. 60660 in bank accounts of his
two sons whose ages are 12 years and 16 years in such a way that they will get equal amount at an age of 120 years @ 33*1/3% per annum compounded annually. Find the share of elder son?Solution
A = [(P(1+ r/100)]n , 331/3% = 1/3 Let the Principal for younger son be x. And the Principal for elder son be y. Now, Interest to be calculated for Younger son = (120 - 12) = 108 years Elder son = (120 - 16) = 104 years Since Amount will be equally distributed then, [x(1+ 1/3)]108 = [y(1+1/3)104 x [(4/3]108 = y [(4/3)]104 y/x = [4/3](108-104) y/x = 256/81 Elder son’s share = 256/337 × 60660 = 46080
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