compound interest

Question

A man gave 50% of his savings of 84,100 to his wife and divided the remaining the sum among his 2 sons A and B of 15 yrs and 13yrs resp.He divided in such a way that each of his son, when they attain age of 18 yrs,would receive same amount at 5% CI per annum. what is B's share?

 

 

Answer 1

total inheritance 84,100

 

left to both sons 42,050

 

Son-age 15

A1=P1(1+.05/1)³

 

Son-age 13

A2=P2(1+.05/1)^5.

 

A1 = A2

 

P1(1+.05/1)³=P2(1+.05/1)^5.

P1 = P2(1.05)²

 

P1+P2=42,050

P2(1.05)²+P2=42,050

2.1025*P2=42,050

P2=20,000

 

P1 = P2(1.05)²

P1= 20,000(1.05)²

P1 = 22,050