Mathematics · Compound Interest
David has two grandsons, Rodney (aged 15) and Amit (aged 16). He divides his wealth of ₹23,400 between them such that their respective shares earn 8% per annum compound interest annually. They receive equal amounts when they turn 22 years old. How much money (in ₹) did David give to Amit initially?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 112150
- 211000
- 311250
- 412500✓
Correct answer
12500
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