Present ages of Tarun and Gulshan are 12 years and 10 years respectively. They want to deposit in Post Office a total sum of Rs. 5204 in such a proportion that at the age of 15, each of them may get an equal amount. If the Post Office pays 4% p.a. compound interest on the total sum of deposit, find the part of money deposited by each of them.

Question

Present ages of Tarun and Gulshan are 12 years and 10 years respectively. They want to deposit in Post Office a total sum of Rs. 5204 in such a proportion that at the age of 15, each of them   may get an equal amount. If the Post Office pays 4% p.a. compound interest on the total sum of deposit, find the part of money deposited by each of them.

Examsnet · Accepted Answer

Correct Answer is :  Rs. 2704, Rs. 2500

Compound Interest Practice Test 4