A sum of Rs. 8448 is to be divided between A & B who are respectively 18 & 19 years old in such a way that if their shares be invested at 6.25% p.a. CI, they shall receive equal amounts on attaining the age of 21 years. How much will each receive when 21 years old?
A sum of Rs. 8448 is to be divided between A & B who are respectively 18 & 19 years old in such a way that if their shares be invested at 6.25% p.a. CI, they shall receive equal amounts on attaining the age of 21 years. How much will each receive when 21 years old?
Option 1 -
4096
Option 2 -
4913
Option 3 -
4612
Option 4 -
5320
Asked by Shiksha User
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1 Answer
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Correct Option - 2
Detailed Solution:Let us assume that each receives 100 when 21.
100 = P1 (1.0625)3 …. (1)
100 = P2 (1.0625)2 …. (2)
From (1) & (2), P1 : P2 = 16 : 17
Now A’s share
B’s share = Rs. 4352
Now amount of A & B at 21 =
(4096) .
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