Mathematics · Compound Interest
Ketan has two grandsons Mahesh and David. 15-year-old Mahesh gets some money from Ketan's wealth and 16-year-old David gets the rest of the money. However, Mahesh and David will receive the money only when they turn 22 years old. Till then, the money is kept in a bank earning interest at a rate of 10% compounded annually. When both turn 22, they receive the exact same amount. How much had Ketan given to David (in ₹) initially, if the total money distributed was ₹25,200?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 112,000
- 211,750
- 313,200✓
- 413,550
Correct answer
13,200
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