A man invests an amount of ₹1,05,750 at simple interest in the name of his son, daughter and his wife in such a way that they get the same interest after 3, 4 and 5 years, respectively. If the rate of interest is 5% per annum, then the amount invested for the wife is:
A.₹25,000✓ Correct
B.₹30,000
C.₹27,000
D.₹28,000
Explanation
For equal simple interest: P1×3 = P2×4 = P3×5 = k. So P1=k/3, P2=k/4, P3=k/5. Total = k(1/3+1/4+1/5) = k×47/60 = 105750, k = 135000. Wife's amount P3 = 135000/5 = ₹27,000. Answer should be ₹27,000.
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