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