New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    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?
    A 56040 Correct Answer Incorrect Answer
    B 46080 Correct Answer Incorrect Answer
    C 14580 Correct Answer Incorrect Answer
    D 38070 Correct Answer Incorrect Answer
    E 36800 Correct Answer Incorrect Answer

    Solution

    A = [P(1+ r/100)]n , 33(1/3)% = 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

    Practice Next

    Relevant for Exams: