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Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 and 15 such that they may get equal amounts when each of them reach the age of 20 years. The original amount of Rs. 42,87,500 has been instructed to be invested at 10% p.a. simple interest. Find the amount invested by Ramesh for her elder daughter.?
Verified Answer
Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 ...
Let X be the amount invested by Ramesh for his elder daughter.
The elder daughter will receive X + (X * 10 * 10) / 100 = X + X * 1.1 = 1.1X when she reaches the age of 20 years.
The younger daughter will receive X + (X * 10 * 5) / 100 = X + X * 1.05 = 1.05X when she reaches the age of 20 years.
Since both daughters are to receive the same amount, 1.1X = 1.05X + X.
Solving for X, we get:
X = 42,87,500 / (1.1 + 1.05)
= 42,87,500 / 2.15
= Rs. 19,92,307.44
Therefore, Ramesh invested Rs. 19,92,307.44 for his elder daughter.
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Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 ...
Given:
Ramesh invested Rs. 42,87,500 for the future of his two daughters aged 10 and 15.
The amount should be invested in such a way that each daughter receives an equal amount when they reach the age of 20.
The investment is made at an interest rate of 10% p.a. simple interest.
To find:
The amount invested by Ramesh for his elder daughter.
Solution:
To find the amount invested by Ramesh for his elder daughter, we need to calculate the maturity amount for both daughters when they reach the age of 20. Since the maturity amounts are equal, the amounts invested for each daughter will be in the ratio of their ages.
Let's calculate the maturity amount for each daughter:
1. Daughter aged 10:
- Principal amount = Rs. 42,87,500
- Time = 20 - 10 = 10 years
- Rate of interest = 10% p.a.
- Simple Interest = (Principal * Rate * Time) / 100
- Simple Interest = (42,87,500 * 10 * 10) / 100
- Simple Interest = Rs. 42,87,500
2. Daughter aged 15:
- Principal amount = Rs. 42,87,500
- Time = 20 - 15 = 5 years
- Rate of interest = 10% p.a.
- Simple Interest = (Principal * Rate * Time) / 100
- Simple Interest = (42,87,500 * 10 * 5) / 100
- Simple Interest = Rs. 21,43,750
Calculation:
Since the maturity amounts should be equal, the amounts invested for each daughter will be in the ratio of their ages.
Let's assume the amount invested for the elder daughter is 'x'. Then the amount invested for the younger daughter will be (10/15) * x.
Since the maturity amounts are equal, the sum of the maturity amounts for both daughters should be equal to the total investment amount.
Maturity amount for the elder daughter = x + Simple Interest for the elder daughter (Rs. 42,87,500)
Maturity amount for the younger daughter = (10/15) * x + Simple Interest for the younger daughter (Rs. 21,43,750)
x + 42,87,500 = (10/15) * x + 21,43,750
Solving the above equation, we get:
x = Rs. 25,31,250
Conclusion:
The amount invested by Ramesh for his elder daughter is Rs. 25,31,250.
Ramesh invested Rs. 42,87,500 for the future of his two daughters aged 10 and 15.
The amount should be invested in such a way that each daughter receives an equal amount when they reach the age of 20.
The investment is made at an interest rate of 10% p.a. simple interest.
To find:
The amount invested by Ramesh for his elder daughter.
Solution:
To find the amount invested by Ramesh for his elder daughter, we need to calculate the maturity amount for both daughters when they reach the age of 20. Since the maturity amounts are equal, the amounts invested for each daughter will be in the ratio of their ages.
Let's calculate the maturity amount for each daughter:
1. Daughter aged 10:
- Principal amount = Rs. 42,87,500
- Time = 20 - 10 = 10 years
- Rate of interest = 10% p.a.
- Simple Interest = (Principal * Rate * Time) / 100
- Simple Interest = (42,87,500 * 10 * 10) / 100
- Simple Interest = Rs. 42,87,500
2. Daughter aged 15:
- Principal amount = Rs. 42,87,500
- Time = 20 - 15 = 5 years
- Rate of interest = 10% p.a.
- Simple Interest = (Principal * Rate * Time) / 100
- Simple Interest = (42,87,500 * 10 * 5) / 100
- Simple Interest = Rs. 21,43,750
Calculation:
Since the maturity amounts should be equal, the amounts invested for each daughter will be in the ratio of their ages.
Let's assume the amount invested for the elder daughter is 'x'. Then the amount invested for the younger daughter will be (10/15) * x.
Since the maturity amounts are equal, the sum of the maturity amounts for both daughters should be equal to the total investment amount.
Maturity amount for the elder daughter = x + Simple Interest for the elder daughter (Rs. 42,87,500)
Maturity amount for the younger daughter = (10/15) * x + Simple Interest for the younger daughter (Rs. 21,43,750)
x + 42,87,500 = (10/15) * x + 21,43,750
Solving the above equation, we get:
x = Rs. 25,31,250
Conclusion:
The amount invested by Ramesh for his elder daughter is Rs. 25,31,250.
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Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 and 15 such that they may get equal amounts when each of them reach the age of 20 years. The original amount of Rs. 42,87,500 has been instructed to be invested at 10% p.a. simple interest. Find the amount invested by Ramesh for her elder daughter.?
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Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 and 15 such that they may get equal amounts when each of them reach the age of 20 years. The original amount of Rs. 42,87,500 has been instructed to be invested at 10% p.a. simple interest. Find the amount invested by Ramesh for her elder daughter.? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 and 15 such that they may get equal amounts when each of them reach the age of 20 years. The original amount of Rs. 42,87,500 has been instructed to be invested at 10% p.a. simple interest. Find the amount invested by Ramesh for her elder daughter.? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 and 15 such that they may get equal amounts when each of them reach the age of 20 years. The original amount of Rs. 42,87,500 has been instructed to be invested at 10% p.a. simple interest. Find the amount invested by Ramesh for her elder daughter.?.
Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 and 15 such that they may get equal amounts when each of them reach the age of 20 years. The original amount of Rs. 42,87,500 has been instructed to be invested at 10% p.a. simple interest. Find the amount invested by Ramesh for her elder daughter.? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 and 15 such that they may get equal amounts when each of them reach the age of 20 years. The original amount of Rs. 42,87,500 has been instructed to be invested at 10% p.a. simple interest. Find the amount invested by Ramesh for her elder daughter.? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 and 15 such that they may get equal amounts when each of them reach the age of 20 years. The original amount of Rs. 42,87,500 has been instructed to be invested at 10% p.a. simple interest. Find the amount invested by Ramesh for her elder daughter.?.
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Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 and 15 such that they may get equal amounts when each of them reach the age of 20 years. The original amount of Rs. 42,87,500 has been instructed to be invested at 10% p.a. simple interest. Find the amount invested by Ramesh for her elder daughter.?, a detailed solution for Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 and 15 such that they may get equal amounts when each of them reach the age of 20 years. The original amount of Rs. 42,87,500 has been instructed to be invested at 10% p.a. simple interest. Find the amount invested by Ramesh for her elder daughter.? has been provided alongside types of Ramesh invested Rs. 42,87,500 for future of his two daughters aged 10 and 15 such that they may get equal amounts when each of them reach the age of 20 years. The original amount of Rs. 42,87,500 has been instructed to be invested at 10% p.a. simple interest. Find the amount invested by Ramesh for her elder daughter.? theory, EduRev gives you an
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