Manoj has ₹1224 with him. He divided it amongst his sons Anand and Anil and asked them to invest it at 4% rate of interest compounded annually. It was seen that Anand and Anil got same amount after 17 and 18 years respectively. How much (in ₹) did Manoj give to Anil?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 600.
Let Anil get = x
Anand gets = 1224 − x
x × 1.04 = 1224 − x
⇒ 2.04x = 1224
⇒ x = 1224 ÷ 2.04 = 600