Question

an amount of money appreciates to rupees 7000 after 4 years and to rupees 10,000 after 8 years at a certain compound interest compounded annually. the initial amount of money was?​

Answer 1

Answer:

Let the amount be P

As we know, A = P(1 + R/100)^t

initially, 7000 = P(1+R/100)^4________(1)

The key point to note here is, after 4 years, Rs 7000 will be the principal and the  amount after further 4 years will be Rs 10000

so,

10000 = 7000(1 +R/100)^4

⇒(1 +R/100)^4 = 10/7 

putting this value in equation (1),

7000 = P×10/7

⇒P = Rs 4900

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