Rishi has ₹1612 with him. He divided it amongst his sons, Shan and Piyush and asked them to invest it at 8% rate of interest compounded annually. It was seen that Shan and Piyush got the same amount after 19 and 20 years respectively. How much (in ₹) did Rishi give to Shan?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 837.
S × (1.08)19 = P × (1.08)20
⇒ S = P × (1.08)
Ab total paisa = 1612
⇒ S + P = 1612
⇒ (1.08P) + P = 1612
⇒ 2.08P = 1612
⇒ P = 1612 ÷ 2.08
⇒ P = 161200 ÷ 208
⇒ P = 775
Now S = 1.08P ⇒ 1.08 × 775
⇒ (108 ÷ 100) × 775
⇒ 108 × 775 ÷ 100
⇒ 837