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12-03-2022 Compound Interest

Q. 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
C. 4560
D. 4660

Commented on 2022-03-12
Answer: Option B) 4460
Let the sum be Rs.P.thenP(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)=4460Hence,the sum is rs.4460.

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