the ages of pramod and rohit are 16 yrs and 18yrs respectively . in what ratio must they invest money at 5% p.a. compound yearly so that both get the same sum on attaining the age of 25 yrs
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Rohit's amount = P(1+r/100)^n
No. of years = 25 - 18 = 7
= P(1+5/100)⁷
= (21/20)⁷P
Pramod's amount = P(1+r/100)^n
No. of years = 25 - 16 = 9
= P(1+5/100)⁹
= (21/20)⁹P
Ratio = Rohit's investment/Pramod's investment
= (21/20)⁷P/(21/20)⁹P = 1/(21/20)²
= (20/21)² = 400/441 = 400:441
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