A father left a will of Rs.35 lakhs between his two daughters aged 8.5 and 16 such that they may get equal amounts when each of them reach the age of 21 years. The original amount of Rs.35 lakhs has been instructed to be invested at 10% p.a. simple interest. How
Q1. A father left a will of Rs.35 lakhs between his two daughters aged 8.5 and 16 such that they may get equal amounts when each of them reach the age of 21 years. The original amount of Rs.35 lakhs has been instructed to be invested at 10% p.a. simple interest. How
Answer: 21 lakhs
Explanation: Elder daughter needs 5 years to reach 21; younger needs 12.5 years. If the elder receives X, then X(1 + 0.5) = (35−X)(1 + 1.25), giving X = 21 lakhs.