A sum of money becomes Rs.6690 after three years and Rs.10.035 after six years on compound interest. The sum is ?

– by 0

A. Rs.4460
B. Rs.4520
C. Rs.4400
D. Rs.4445

P(1 + R/100)3 = 6690 – (i)
P(1 + R/100)2 = 10, 035 – (ii)
By dividing (i) and (ii)
(1 + R/100)3 = 10035/6690 = 3/2
Therefore, P = (6690 x 2/3) = Rs. 4460

Leave a Reply

Your email address will not be published. Required fields are marked *