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A person has left an amount of Rs. 1,20,000 to be divided between his two sons, aged 14 years and 12 years such that they get equal amounts when each attains 18 years of age. If the amount gets a simple interest of 5% per annum, the younger son's share at present is
- a)Rs. 48,800
- b)Rs. 57,600
- c)Rs. 62,400
- d)Rs. 84,400
Correct answer is option 'B'. Can you explain this answer?
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Most Upvoted Answer
A person has left an amount of Rs. 1,20,000 to be divided between his...
Let the share that the elder son gets be Rs. x.
Share that younger son gets = Rs. (1,20,000 - x)
According to the question,
On solving, we get
x = Rs. 62,400
Share that younger son gets = Rs. (1,20,000 - 62,400) = Rs. 57,600
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Community Answer
A person has left an amount of Rs. 1,20,000 to be divided between his...
Given:
- Amount left by the person = Rs. 1,20,000
- Two sons' ages = 14 years and 12 years
- The amount needs to be divided equally when each son attains 18 years of age
- Simple interest rate = 5% per annum
To find:
The younger son's share at present
Solution:
Step 1: Find the total interest earned by the amount over the period from the present to when the younger son turns 18 years old.
Step 2: Divide the total interest equally between the two sons.
Step 3: Subtract the younger son's share of interest from the total amount left by the person to find his share at present.
Step 1: Calculating the Total Interest:
Principle amount (P) = Rs. 1,20,000
Rate of interest (R) = 5% per annum
Time period (T) = (18 - 12) years = 6 years
Using the formula for simple interest:
Simple Interest (SI) = (P * R * T) / 100
SI = (1,20,000 * 5 * 6) / 100
SI = 36,000
Step 2: Dividing the Interest:
Since the amount needs to be divided equally when each son turns 18, the total interest of Rs. 36,000 will also be divided equally.
Therefore, each son will receive Rs. 36,000 / 2 = Rs. 18,000 as interest.
Step 3: Calculating the Younger Son's Share at Present:
The younger son's share at present will be the total amount left by the person minus his share of interest.
Younger son's share = Rs. 1,20,000 - Rs. 18,000 = Rs. 1,02,000
Conclusion:
The younger son's share at present is Rs. 1,02,000, which is not listed in the given options. Hence, there may be an error in the options provided for this question.
- Amount left by the person = Rs. 1,20,000
- Two sons' ages = 14 years and 12 years
- The amount needs to be divided equally when each son attains 18 years of age
- Simple interest rate = 5% per annum
To find:
The younger son's share at present
Solution:
Step 1: Find the total interest earned by the amount over the period from the present to when the younger son turns 18 years old.
Step 2: Divide the total interest equally between the two sons.
Step 3: Subtract the younger son's share of interest from the total amount left by the person to find his share at present.
Step 1: Calculating the Total Interest:
Principle amount (P) = Rs. 1,20,000
Rate of interest (R) = 5% per annum
Time period (T) = (18 - 12) years = 6 years
Using the formula for simple interest:
Simple Interest (SI) = (P * R * T) / 100
SI = (1,20,000 * 5 * 6) / 100
SI = 36,000
Step 2: Dividing the Interest:
Since the amount needs to be divided equally when each son turns 18, the total interest of Rs. 36,000 will also be divided equally.
Therefore, each son will receive Rs. 36,000 / 2 = Rs. 18,000 as interest.
Step 3: Calculating the Younger Son's Share at Present:
The younger son's share at present will be the total amount left by the person minus his share of interest.
Younger son's share = Rs. 1,20,000 - Rs. 18,000 = Rs. 1,02,000
Conclusion:
The younger son's share at present is Rs. 1,02,000, which is not listed in the given options. Hence, there may be an error in the options provided for this question.
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A person has left an amount of Rs. 1,20,000 to be divided between his two sons, aged 14 years and 12 years such that they get equal amounts when each attains 18 years of age. If the amount gets a simple interest of 5% per annum, the younger son's share at present isa)Rs. 48,800b)Rs. 57,600c)Rs. 62,400d)Rs. 84,400Correct answer is option 'B'. Can you explain this answer?
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A person has left an amount of Rs. 1,20,000 to be divided between his two sons, aged 14 years and 12 years such that they get equal amounts when each attains 18 years of age. If the amount gets a simple interest of 5% per annum, the younger son's share at present isa)Rs. 48,800b)Rs. 57,600c)Rs. 62,400d)Rs. 84,400Correct answer is option 'B'. Can you explain this answer? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about A person has left an amount of Rs. 1,20,000 to be divided between his two sons, aged 14 years and 12 years such that they get equal amounts when each attains 18 years of age. If the amount gets a simple interest of 5% per annum, the younger son's share at present isa)Rs. 48,800b)Rs. 57,600c)Rs. 62,400d)Rs. 84,400Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person has left an amount of Rs. 1,20,000 to be divided between his two sons, aged 14 years and 12 years such that they get equal amounts when each attains 18 years of age. If the amount gets a simple interest of 5% per annum, the younger son's share at present isa)Rs. 48,800b)Rs. 57,600c)Rs. 62,400d)Rs. 84,400Correct answer is option 'B'. Can you explain this answer?.
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