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?Solution
γ P(1+ r/100) γ ^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, γ x(1+ 1/3) γ ^108= γ y(1+1/3) γ ^104 x γ (4/3) γ ^(108 )=y γ (4/3) γ ^104 y/x = γ (4/3) γ ^(108-104 ) y/x = 256/81 Elder son’s share = 256/337 × 60660 = 46080
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