Ram divided Rs. 41,000 in two parts and deposited in the bank account of two daughters at the rate of annual compound interest 5% for 2 years and 3 years respectively. If the compound amount received by them after 2 years and 3 years respectively are equal, find how much did each of them get?

Question

Accepted Answer

Let the 2-year daughter's share , so the 3-year daughter's share . . Setting the compound amounts equal: , so , giving , so , thus . So the 2-year share is Rs. and the 3-year share is Rs. .