Krish has ₹1,352, which he divides between his two sons, Veer and Nitin. Both invest their respective amounts at an annual compound interest rate of 8%. If the amounts accumulated by Veer after 18 years and by Nitin after 19 years are equal, how much money (in ₹) did Krish give to Nitin?
650
Let Veer's principal be V and Nitin's principal be N, so \(V + N = 1352\).
At 8% compound interest, Veer's amount after 18 years equals Nitin's amount after 19 years: \(V(1.08)^{18} = N(1.08)^{19}\).
Dividing both sides by \((1.08)^{18}\): \(V = 1.08\,N\).
Substitute into \(V + N = 1352\): \(1.08N + N = 2.08N = 1352\).
Solve for N: \(N = \dfrac{1352}{2.08} = 650\).
Hence, Krish gave ₹650 to Nitin.
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In how many years will a sum of Rs.1875 amount to Rs.2187 at 8 percent p.a. compound interest?
A sum of money has increased by 45% in 9 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?
At a certain rate of compound interest a certain sum amounts to Rs. 64800 in 4 years and Rs. 93312 in 6 years. What is the compound interest earned in fifth year?
