Mathematics · Compound Interest
Rupesh has two grandsons, Mandar (13 years old) and Ketan (14 years old). He divides his total wealth of ₹24,600 between them such that their respective shares are deposited in a bank at 5% per annum compound interest. They will receive their amounts only when they turn 23 years old. If both receive the same amount at the age of 23, how much money (in ₹) did Rupesh give to Ketan initially?
- 112600✓
- 212000
- 312950
- 411750
Correct answer
12600
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