New SIDBI Grade A New Batch Starts on Nov 18

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    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 , 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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