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A father distributes ₹16,400 into two fixed deposits for his two sons of age 17 and 18 years respectively, such that at their age of 20 years, both get the same amount. If the rate of compound interest is 5% per annum (compounded annually), then how much amount does the father deposit for his younger son?
This question appeared in the RPSC Prelims 2016 examination (Prelims 2016). It is Question 118 out of 150 questions in this paper.
This question was part of the RPSC Prelims 2016 (Prelims 2016). The RPSC Prelims examination tests candidates on general studies, current affairs, and aptitude through multiple-choice questions.
Practice previous year questions from all RPSC Prelims papers and compare patterns with UPSC Prelims PYQ to identify overlapping topics.