A person deposited `50000Rs` for his son of age `10` years, in a monetary fund. The fund investing that money at the rate of `4%` simple interest per annum, gave the sone a quantity of `1200Rs` at the end of every year. The annual expenses of the fund is `300Rs`. After fulfilling `18` years, what amount the boy will get from the fund?

Explanation

At the rate of `4%` per annum,
the interest of `Rs50000` in `1` year `=Rs(50000xx4xx1)/(100)=Rs2000`
The annual expenses of the fund `=Rs(1200+300)=Rs1500`
`:.` Rest of the money `=Rs(2000-1500)=Rs500`
`:.` After completion of `18` years, the total quantity of simple interest `=Rs(18-10)xx500=Rs4000`.
`:.` The total amount the boy will get from the fund at the end of `18` years `=Rs(50000+4000)`
`=Rs54000`.
`:.` The required amount `=Rs54000`.