Multiple Choice Questions on A man with a sum of Rs3903 wants to deposit in the bank account of his two sons so that both will ge........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A man with a sum of Rs3903 wants to deposit in the bank account of his two sons so that both will ge...........

Quantitative Aptitude ( CCS) Compound Interest
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    A man with a sum of Rs3903 wants to deposit in the bank account of his two sons so that both will get equal money after 5yrs and 7yrs respectively at the rate of 4% compounded annually. Find the part of amount deposited into the account of first son?

    2028

    Correct Answer

    2400

    Incorrect Answer

    3000

    Incorrect Answer

    1250

    Incorrect Answer
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    Explanation:

    A( 1+4/100)5 = B(1+4/100)7
    A/B = (1+4/100)² = 676/625
    676+625 = 3903
    1= 3
    676 = 2028

    Hence, option 1 is the correct answer.

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