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.
Options:
A . 4445
B . 4450
C . 4455
D . 4460
Answer: Option D
Let the sum be Rs.P P(1+R/100)^3=6690…(i) 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 P=(6690*2/3)=4460 Hence,the sum is Rs.4460
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