A sum of money becomes Rs.6690 after three years and Rs.10,035 after 6 years on compound interest. The sum is
Rs.4400
Rs.4445
Rs.4460
Rs.4520
Explanation:
Let the sum be P.
Then, P [1+R100]3=6690[1+R100]3=6690.........(i)
and P [1+R100]6=10,035[1+R100]6=10,035 ..... (ii)
Dividing (ii) by (i), we get
(1+R100)3=100356690=32(1+R100)3=100356690=32
P=(6690×23)(6690×23)=Rs.4460
Let the sum be P.
Then, P [1+R100]3=6690[1+R100]3=6690.........(i)
and P [1+R100]6=10,035[1+R100]6=10,035 ..... (ii)
Dividing (ii) by (i), we get
(1+R100)3=100356690=32(1+R100)3=100356690=32
P=(6690×23)(6690×23)=Rs.4460