Mathematics · Compound Interest
Rodney has two grandsons, Amit and Gopal. 11-year-old Amit gets some money from Rodney's wealth and 12-year-old Gopal gets the rest of the money. Both will receive their shares only when they turn 23 years old. Till then, the money is kept in a bank earning interest at a rate of 10% compounded annually. When both turn 23, they receive the exact same amount. How much had Rodney given to Gopal (in ₹) initially, if the total money distributed was ₹23,100?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 111,000
- 212,450
- 310,750
- 412,100✓
Correct answer
12,100
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