Question

a sum of ₹34522 is divided between Rohit and Rajesh 18 years and 21 years old respectively in such away that if their shares be invested at 5% per annum compound interest both will receive equal money at the age of 30 years find the shares of each out of ₹ 34522​

Answer 1

:Rohit share = A

Rajesh share = (34, 522 - A)

r = 5/100      

For Rohit, number of years of investment = 30 - 18 =12

For Rajesh number of years = 30 - 21 = 9

so  A (1 + 5/100)^12  = (34, 522 - A) ( 1 + 5/100)^9

     A * 1.05^3 = (34, 522 - A)  

      A = Rohit's Share  = Rs 16, 000.

      Rajesh's share = Rs 18, 522 .