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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.
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- Rs. 120000
- Rs. 150000
- Rs. 118000
- Rs. 125000
- Rs. 120000
Correct Option: C
As we know that ,
| S.I. = | |
| 100 |
| S.I. = | = Rs. 36000 | |
| 100 |
Total pocket money = 6 × 2500 = Rs. 15000
Total expenses of trust = 6 × 500 = Rs. 3000
Total expenses = Rs. (15000 + 3000) = Rs. 18000
⇒ Amount to be received by the boy = Rs. (100000 + 36000 – 18000) = Rs. 118000
