New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    Raman gave 50% of his savings of 126150 to his wife and divided the remaining sum among his two sons Aman and Bhusan of 15 and 13 years of age respectively. He divided it in such a way that each of his sons, when they attain the age of 18 years, would receive the same amount at 5% compound interest per annum. The share of Bhusan was

    A Rs 20,000 Correct Answer Incorrect Answer
    B Rs 40,000 Correct Answer Incorrect Answer
    C Rs 50,000 Correct Answer Incorrect Answer
    D Rs 30,000 Correct Answer Incorrect Answer

    Solution

    Amount given to sons = 126150 × (1/2) = 63075 Amount given to Bhusan = x (let) Therefore, Amount given to Aman = (63075 – x) A = P [1 + (R/100)]T = (63075 - x) [1 + (R/100)]3  = x [1 + (R/100)] 5 = (63075 – x) = x [1 + (R/100)]2 (63075 – x) = x [1 + (5/100)]2 (63075 – x) = x [1 + (1/20)]2 (63075 – x) = x (21/20)2 (63075 – x) = 441x/400   63075 = (441x + 400x)/400   x = (63075 x 400)/841 = Rs 30,000

    Practice Next

    Relevant for Exams: