A father left a will of Rs.35 lakhs between s two daughters aged 8.5 and 16 such that they may get equal amounts when each of them reach the age of 21 years. The original amount of Rs.35 lakhs has been instructed to be invested at 10% p.a. simple interest. How much did the elder daughter get at the time of the will?
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the time taken by 16 years girl to turn 21 years is 21-16=5 years
10% of 3500000 = 3500000*(10/100)
=350000 ... (3.5 lakh)per year
interest for 5 years = 3.5*5= 17.5 lakhs
so elder daughter gets = half of the total interest + half of total money
= 8.75 lakh + 17.5 lakh
=26.25 lakh or 2625000
10% of 3500000 = 3500000*(10/100)
=350000 ... (3.5 lakh)per year
interest for 5 years = 3.5*5= 17.5 lakhs
so elder daughter gets = half of the total interest + half of total money
= 8.75 lakh + 17.5 lakh
=26.25 lakh or 2625000
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