Question

A certain sum amounts rs 4500 in 2 years and 6750 in 4 years by compound interest find the sum?
( 1 ) 4000
(2) 2500
(3) 3000
(4) 3050

Answer 1

Given Amount = 4500, n = 2 years.

We know that A = P(1 + r/100)^n

                        4500 = P(1 + r/100)^2  ------ (1)



Given Amount = 6750, n = 4 years.

We know that A = P(1 + r/100)^n

                       6750 = P(1 + r/100)^4  ------ (2)


On solving (1) & (2), we get

   6750/4500 = (1 + r/100)^4/(1 + r/100)^2

   3/2 = (1 + r/100)^2   ------- (3)


Substitute (3) in (1), we get

4500 = P * 3/2

9000 = 3P

P = 3000.


Therefore the sum = 3000.


Hope this helps!

Answer 2

Hi,

Please see the attached file!


Thanks