Multiple choice

A father left a will in which he distributed his property worth Rs. 35 lakh between his two daughters aged 8.5 and 16 such that they might get equal amounts when each of them reaches the age of 21 years. The original amount of Rs. 35 lakh was instructed to be invested at 10% p.a. simple interest. How much money did the elder daughter get at the time of the will?

  1. Rs. 17.5 lakh

  2. Rs. 21 lakh

  3. Rs. 15 lakh

  4. Rs. 20 lakh

  5. Rs. 25 lakh
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let x be the amount for the elder daughter (age 16) and (35-x) for the younger (age 8.5). They reach 21 in 5 and 12.5 years respectively. Amount = P(1 + rt/100). x(1 + 0.1*5) = (35-x)(1 + 0.1*12.5) => 1.5x = (35-x)(2.25) => 1.5x = 78.75 - 2.25x => 3.75x = 78.75 => x = 21.

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