Correct Answer - Option 1 : 6000
Given:
A father left a will of 12300
Concept:
Compound Interest = P × {(1 + R/100)T - 1}, Where, P = Principle, R = Rate, and T = Time
Calculation:
Let the shares of the younger and elder sons be X and (12300 - X)
⇒ The amount after 5 years = Amount of (12300 - X) after 4 years
⇒ X × (1 + 5/100)5 = (12300 - X) × (1 + 5/100)4
⇒ 21X/20 = 12300 - X
⇒ 41X/20 = 12300
⇒ X = 6000
∴ The required result will be 6000.