Question
Download Solution PDFKrish has ₹1224 with him. He divided it amongst his sons Veer and Nitin and asked them to invest it at 4% rate of interest compounded annually. It was seen that Veer and Nitin got same amount after 12 and 13 years respectively. How much (in ₹) did Krish give to Nitin?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Krish has ₹1224 which he divides among Veer and Nitin.
Rate of interest (r) = 4% compounded annually.
Formula used:
A = P × (1 + r/100)t
Calculations:
Let the amount given to Veer be ₹V and to Nitin be ₹N.
According to the question:
V × (1 + 4/100)12 = N × (1 + 4/100)13
⇒ V × (26/25)12 = N × (26/25)13
⇒ N = V × (25/26)
Total amount: ₹1224
⇒ V + N = ₹1224
Substitute N = V × (25/26):
⇒ V + V × (25/26) = ₹1224
⇒ V × (1 + 25/26) = ₹1224
⇒ V × (51/26) = ₹1224
⇒ V = ₹1224 × (26/51) = ₹624
⇒ N = V × (25/26)
⇒ N = ₹624 × (25/26) = ₹600
Krish gave ₹600 to Nitin.
The correct answer is option (1).
Last updated on Jul 8, 2025
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