Shan has ₹1617 with him. He divided it amongst his sons Piyush and Manoj and asked them to invest it at 10% rate of interest compounded annually. It was seen that Piyush and Manoj got same amount after 11 and 12 years respectively. How much (in ₹) did Shan give to Piyush?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 847 .
total = ₹1617
Let amount given to Piyush = x and to Manoj = 1617 − x
Rate = 10%
After 11 years Piyush gets x × (1.1)11
After 12 years Manoj gets (1617 − x) × (1.1)12
So , x × (1.1)11 = (1617 − x) × (1.1)12
Divide both sides by (1.1)11 ,
x = (1617 − x) × 1.1
x = 1.1 × 1617 − 1.1x
x + 1.1x = 1.1 × 1617
2.1x = 1778.7
x = 1778.7 ÷ 2.1 = 847