SSC CHSL 6 Dec 2015 Shift 1 Paper

Question : 150 of 200

Marks: +1, -0

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.

₹125000
₹120000
₹118000
₹150000

Validate

Solution:

Sum after 12 years of age = Rs. 1,00,000
Rate of interest = 6% and time period = 6 years
⇒ Amount after 18 years =

P+{P×R×T}/100

1, 00, 000 +{1,00,000×6×6}/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 × 3000 = Rs. 18, 000
∴ Amount attained = 1, 36, 000 − 18, 000 = Rs. 1, 18, 000

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