Question

A sum amounts to 8028 rupees in 3 years and to 12042 in 6 years at certain rate per annum when interest is compounded yearly the sum is

Answer 1

Answer:

Sum is almost 5352 rupees

Step-by-step explanation:

Let sum is P

We know

$A = P (1 + \frac{R}{100})^{n}$

From  first case A = 8028   and time(n) = 3 years

$8028 = P (1 + \frac{R}{100})^{3}$              ...1)

From  second case A = 12042   and time(n) = 6 years

$12042 = P (1 + \frac{R}{100})^{6}$            ....2)

Dividing equation 1 From equation 2

$\frac{12042}{8028} = (1 + \frac{R}{100})^{3}$       ...3)

From equation 1

$8028 = P\times \frac{12042}{8028}$

Then P =5352 Rupees