A sum of money amount to Rs. 6690 after 3 years and to Rs. 10,035 after 6 years on compound interest . Find the sum .
Let the sum be Rs. P, Then,
`P(1 + R/100)^3 = 6690`................................(i)
and ` P(1 + R/100)^6 ` ....................................(ii)
On dividing , we get` (1 + r/100)^3 = 10035/6690 = 3/2`
Substituting this value in (i) , we get :
`P xx 3/2 = 6690`
or` P = (6690 xx 2/3) = 4460`
Hence , the sum is Rs. 4460.
Submit Comment/FeedBack