Ashok left a will of Rs. 48300 for his two sons whose ages are 16 and 17 years. They must get equal amounts when they are 19 years at 10% compound interest. Find the present share of the younger son. (In Rs.)

₹23,000

A = P[1 + (r/100)]ⁿ

The present share of the younger son be "P"

Then elder son = 38800 - P

⇒ P [1 + (10/100)]³ = (48300 - P) [1 + (10/100)]²

⇒ P [1 + (10/100)] = 48300 - P

⇒ P (11/10) = 48300 - P

⇒ 11P = 483000 - 10P

⇒ P = 483000 / 21

⇒ P = Rs. 23000