Question 53

A person has left an amount of Rs. 1,20,000 to be divided between his two songs ages 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 percent is

Solution

let younger son's share = x

elder son's share = (120000 - x)

according to the question,

$$ x + \frac{x \times 5 \times 6}{100} = (120000 - x) + \frac{(120000 - x) \times 4 \times 5}{100} $$

$$ 20x + 6x = 20 \times 120000 - 20x + 480000 - 4x $$

solving $$ x = \frac{2880000}{50} = 57600 $$

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