Math Problem Statement
How should a sum of rupees 25000 be divided between two boys aged 15 years and 10 years now, so that at the age of 25 they should get equal amount, interest being charged at 8% per annum
Solution
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Math Problem Analysis
Mathematical Concepts
Compound Interest
Algebra
Future Value
Formulas
Future Value Formula: A = P (1 + r/100)^t
Equation: x (1.08)^10 = (25000 - x) (1.08)^15
Theorems
Compound Interest Theorem
Suitable Grade Level
Grades 10-12
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