Question
Ram Lal invested a certain amount for three years, under compound interest compounded annually and received Rs.17820. If he had invested the same amount for six years at the same rate of interest compounded annually, he would have received Rs.49410. What amount (in Rs.) did he invest?
Answer: Option D
:
D
Was this answer helpful ?
:
D
Let the sum be P and the interest rate be r.
Then after ‘n’ years A=P(1+r100)n=PRn where R=1+r100
Now, 17820=PR3 , 49410=PR6
R3=4941017820
So, P=17820×1782049410 =Rs.6427
Was this answer helpful ?
More Questions on This Topic :
Latest Videos
Latest Test Papers
Submit Solution