Ashok has ₹1617 with him. He divided it amongst his sons, Raj and Varun, and asked them to invest it at a 10% rate of interest compounded annually. It was seen that Raj and Varun got the same amount after 18 and 19 years, respectively. How much (in ₹) did Ashok give to Raj?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 847.
Let Raj = x, Varun = 1617 − x
x × (1.10)18 = (1617 − x) × (1.10)19
x = (1617 − x) × 1.10 → x + 1.10 × x
= 1617 × 1.10
2.10 × x = 1778.7 → x = 847