Poll Results
Please login to vote and see the results.
A boy aged 12 years is left with Rs.100,000 which is under a trust. The trustees invest the money at 6% per annum and pay the minor boy a sum of Rs.2500, for his pocket money at the end of each year. The expenses of trust come out to be Rs.500 per annum. Find the amount that will be handed over to the minor boy after he attains the age of 18 years.
Share
Explanation:
Sum of the 12 years age= Rs. 100,000
Sum of the 18 years age=P + P×R×T\100
=100,000 + 100,000×6×6\100
=100,000+36000
=136,000
Total expenses =2500+500=3000/Years
Total expenses (6 years)=3000×6=Rs.18,000
Amount attained
=136,000−18,000=1,18000