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Rs. 7500 is invested by a person in the bank account of his two
sons whose ages are 12 years and 14 years in such a way that they
will get equal amount at an age of 18 years at the rate of 5% per
annum. Find the share of younger child.
Answers
Given : Rs. 7500 is invested by a person in the bank account of his two
sons whose ages are 12 years and 14 years in such a way that they
will get equal amount at an age of 18 years at the rate of 5% per
annum
To find : the share of younger child.
Solution:
Assuming compound interest :
Son whose age is 12 year will get interest for 2 years extra than son whose age is 14 years
Hence amount of 12 year son should be such that after 2 years his amount become equal to 14 year son
Let say Part of 12 year son = Rs P
then Part of 14 year son = 7500 - P
Amount of P after 2 years = P ( 1 + R/100)²
= P ( 1 + 5/100)²
= 441P/400
441P/400 = 7500 - P
=> 841P = 7500 * 400
=> P = Rs 3,567.18
if Considered simple interest
Then Amount of younger son
= P + P * 5 * 6/100 = 1.3P
Amount of elder son
= 7500 - P + (7500 - P) * 5 * 4 /100
= (7500 - P)1.2
= 9000 - 1.2P
1.3P = 9000 - 1.2P
=> 2.5P = 9000
=> P = 3600
share of younger child. = Rs 3600
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Step-by-step explanation:
3000×5×6= 900
answer is 3000