Mathematics · Compound Interest
Atul distributed ₹24700 between his two grandsons 12-year-old Baban and 13-year-old Rakesh such that they get equal money when they turn 23 years old. Till then the money is in a bank getting compound interest at 8% per annum, compounded annually. How much (in ₹) did Atul deposit in the name of Rakesh?
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