Mahesh has ₹1617 with him. He divided it amongst his sons Vijay and Ajay and asked them to invest it at 10% rate of interest compounded annually. It was seen that Vijay and Ajay got same amount after 15 and 16 years respectively. How much (in ₹) did Mahesh give to Vijay?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 847.
V × (1.1)15 = A × (1.1)16
⇒ V = 1.1 × A
V + A = 1617
⇒ 1.1A + A = 1617
⇒ 2.1A = 1617
⇒ A = 770
V = 1617 − 770 = 847