Mathematics · Compound Interest
Pramod has two grandsons Ashish and Ketan. 13 year old Ashish gets some money from Pramod's wealth and 14 year old Ketan gets the rest of the money. But Ashish and Ketan will get the money only when they turn 24 years old. Till then the money is deposited in a bank earning interest at a rate of 4% compounded annually. When both turn 24, they receive the same amount. How much had Pramod given Ketan (in ₹) initially, if the total money distributed was ₹25,500?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 113000✓
- 212250
- 313350
- 412500
Correct answer
13000
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