Mathematics · Compound Interest
Rakesh has two grandsons, Shivam (aged 17) and Rupesh (aged 18). He divides a total of ₹23,400 between them such that their respective shares are deposited in a bank at 8% per annum compound interest, compounded annually. Each will receive his amount upon turning 21 years old. If both receive the same final amount at age 21, how much money (in ₹) did Rakesh initially give to Rupesh?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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Correct answer
12150
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