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Question 1:
A sum of money amounts to Rs.6690 after 3 years and to Rs.10,035 after 6 years on compound interest. find the sum?
A. 4360
B. 4460
Feedback Let the sum be Rs.P.then
P(1+R/100)^3=6690…(i) and P(1+R/100)^6=10035
(ii)On dividing,we get (1+R/100)^3=10025/6690=3/2.
Substituting this value in (i),we get:
P*(3/2)=6690 or P=(6690*2/3)=4460
Hence,the sum is rs.4460.
P(1+R/100)^3=6690…(i) and P(1+R/100)^6=10035
(ii)On dividing,we get (1+R/100)^3=10025/6690=3/2.
Substituting this value in (i),we get:
P*(3/2)=6690 or P=(6690*2/3)=4460
Hence,the sum is rs.4460.
C. 4560
D. 4660
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