A sum of money becomes rs 13,380 in 3 years and rs 20,070 in 6 years at compound interest. the initial sum is?
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The increase over three years is by a factor of
20,070 / 13,380 = 1.5
So there would have been the same increase over the first three years,
which means the initial amount was
Rs. 13,380 / 1.5 = Rs. 8,920
20,070 / 13,380 = 1.5
So there would have been the same increase over the first three years,
which means the initial amount was
Rs. 13,380 / 1.5 = Rs. 8,920
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