Mathematics · Compound Interest
Shivam has two grandsons, Rupesh (12 years old) and Mandar (13 years old). He distributes a total wealth of ₹24,700 between them. The money is deposited in a bank at an interest rate of 8% per annum compounded annually, such that both receive the exact same amount when they turn 23 years old. How much money (in ₹) did Shivam give to Mandar initially?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 113,175
- 211,875✓
- 311,625
- 412,825
Correct answer
11,875
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