Question

A sum of money is deposited at compound interest amounts to rs.6690 after 3 years and rs.10035 after 6 years. The sum is?

Answer 1

$<b>$

Let the sum be ₹P
then

$P×{(1+ \frac{R}{100})}^3=6690$…(i)
and  
$P{(1+ \frac{R}{100})}^6=10035$…(ii)


On dividing, we get ${(1+ \frac{R}{100})}^3$

$=\frac{10025}{6690}= \frac{3}{2}$


Substituting this value in (i),we get:


$P× \frac{3}{2}=6690$
or
$P=(6690× \frac{2}{3})=4460$

$<b>$

Hence, the sum is rs.4460.