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Solve. . compound interest
Rs18750 is divided between two sons of age 10 and 13 yrs respectively in such a way that each would receive the same amount at 3% p.a CI on attaining the age of 30 years. find the original share of the younger son
Replies (3)
Hi..
The share of younger son is Rs.8975/-
I know ans please explain how
I solved in this way;
Calculate annuity factor of 3% for balance no of years upto 30years. Add both the figure and multiply it with 18750/-. Resultant figure to be divided by 2 and share among them equally. Divide the shared figure by respective annuity factor of sons to get their share.
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