Question

A sum of money become 13,380 after 3yr and 20,070 after 6yr on compound interest. The sum is

Answer 1

Answer:8920

Step-by-step explanation:

Let the sum be Rs.x. Then,

x (1+R100)3 = 13380..............(i)

and,

x (1+R100)6 = 20070..............(ii)

Dividing equation (ii) by (i),

(1+R100)3 = 2007013380 = 32

From equation (i),

x 32=13380

=> x = 13380×23 = 8920

Hence, the sum is Rs. 8920.