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A sum of Rs 44,200 is divided between Jo...

A sum of Rs 44,200 is divided between John and Smith, 12 years and 14 years old respectively, in such a way that if their portions be invested at 10 percent per annum compound interest, they will receive equal amounts on reaching 16 years of age.
What will each receive, when 16 years old ?

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The correct Answer is:
Rs 29,282
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