Mathematics · Compound Interest
Veer has ₹1224 with him. He divided it between his sons Nitin and Pravin and asked them to invest it at a 4% rate of interest compounded annually. It was observed that Nitin and Pravin received the same amount after 19 and 20 years respectively. How much (in ₹) did Veer give to Pravin?
- 1600✓
- 2724
- 3450
- 4624
Correct answer
600
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