Manoj has Rs. 1224 with him. He divided it amongst his sons Anand and Anil and asked them to invest it at 4% rate of interest compounded annually. It was seen that Anand and Anil got same amount after 17 and 18 years respectively. How much (in Rs. ) did Manoj give to Anil?

Correct option is C

Given:
Total amount = Rs. 1224
Anand invested for 17 years
Anil invested for 18 years
Rate of interest = 4% compounded annually
Both received the same final amount
Formula Used:
​$$A = P \left(1 + \frac{R}{100} \right)^T$$​​
Solution:
Let Anand’s principal = A and Anil’s principal = N
Since both received the same amount after 17 and 18 years respectively:
​$$A(1.04)^{17} = N(1.04)^{18} => A = 1.04N$$​​
From the total amount: A + N = 1224
Substitute A = 1.04N into the equation:
1.04N + N = 1224
2.04N = 1224
N = 1224 ÷ 2.04 = 600