Johnson left 100000 with the direction that it should be divided in such a way that his minor sons tom, dic, harry aged 9,12,15 years should each receive equally after attaining the age 25 years. the rate of interest being 3.5%,how much each son receive after getting 25 years old?
Answers
Given : Johnson left 100000 with the direction that it should be divided in such a way that his minor sons tom, dic, harry aged 9,12,15 years should each receive equally after attaining the age 25 years. the rate of interest being 3.5%,
To find : how much each son receive after getting 25 years old
Solution:
Aged 9 , 12 & 15 Years
so one will get 16 year interest , one 13 year & one 10 Years
Amount of aged 9 years
Should be Such that after 3 Years interest it become = 12 years aged amount
and that amount after 3 years become aged 15 year amount
Hence
P + P(1 + 3.5/100)³ + P(1 + 3.5/100)⁶ = 100000
=> P = 29958.3
Amount each one get = P(1 + 3.5/100)¹⁶ = 51947.27
each son receive after getting 25 years old = 51947.27
Learn more:
A sum of rs.427 is to be divided among a,b and c such that 3 times ...
https://brainly.in/question/7328499
A person invested in all rs. 2600 at 4%, 6%, and 8 % per annum ...
https://brainly.in/question/1833824