1. A boy aged 12 years is left with ₹100,000 which is under a trust. The trustees invest the money at 6% per annum and pay the minor boy a sum of ₹2500, for his pocket money at the end of each year. The expenses of trust come out to be ₹500 per annum. Find the amount that will be handed over to the minor boy after he attains the age of 18 years.
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By: anil on 05 May 2019 02.19 am
Sum after 12 years of age = Rs. 1,00,000 Rate of interest = 6% and time period = 6 years => Amount after 18 years = $$P+frac{P imes R imes T}{100}$$ = $$1,00,000+frac{1,00,000 imes6 imes6}{100}$$ = $$1,00,000+36,000=Rs.$$ $$1,36,000$$ Total expenses per year = $$2500+500=Rs.$$ $$3,000$$ => Total expenses for 6 years = $$6 imes3000=Rs.$$ $$18,000$$ $$ herefore$$ Amount attained = $$1,36,000-18,000=Rs.$$ $$1,18,000$$ => Ans - (C)
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