Question

a certain sum amounts to rs 1000 in 3 years and 9000 in 5 years in compound interest. how much it will be after 8 years?

1. 900000
2. 100000
3. 243000
4. 343000
5. None of these

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Answer 1

Let the sum be x

Then,

A=P(1+R/100)^n

1000=x(1+R/100)^3

1000×100^3=x(100+R)^3 ...(i)

aslo

9000=x(1+R/100)^5

9000×100^5=x(100+R)^5 ....(ii)

divide ii by i and solve for R

u will get R=200%

so 1000=x(1+200/100)^3

x~37rs

Now

A=37(1+200/100)^8

~ 243000 ans

Answer 2

Here is your right answer :)