other govt exam CCI Junior Commercial Executive & Junior Assistant 2024 Mock Tests Quantitative Aptitude Interest Compound Interest
A deposited a total of Rs. 25,500 in a bank in the names of his grandsons P and Q who are presently 13 years and 14 years old, respectively. He divided his money in such a way that they get equal amounts upon attaining the age of 25 years. If the bank gives interest at a rate of 4% p.a. compounded annually, then how much has been deposited in Q's name?
1
Rs. 12,000
2
Rs. 14,000
3
Rs. 13,000
4
Rs. 12,500