Question

What sum will amount to Rs. 4000 in 3 year at 6% p.a. compound interest?

Answer 1

Answer:So, the sum of money that will produce Rs.6912 in 3 years at 20% p.a of compound interest is Rs.4000.

Step-by-step explanation:

Answer 2

Given : Sum will amount to Rs. 4000 in 3 years at 6% p.a. compound interest.

To find : The sum of money.

Solution :

We can simply solve this mathematical problem by using the following mathematical process. (our goal is to calculate the sum of money)

Let, the sum of money = Rs. x

Now, we know that,

A = P × [1 + (r/100)]ⁿ

Where,

• A = Total amount = Principal amount + Compound interest
• P = Principal amount
• n = number of years
• r = rate of interest p.a.

In this case,

• A = Rs. 4000
• P = Rs. x
• n = 3
• r = 6%

By putting the available data in the above mentioned mathematical formula, we get :

4000 = x × [1 + (6/100)]³

4000 = x × [1 + (3/50)]³

4000 = x × (53/50)³

x = 4000 × (50/53)³

x = 3358.47 (approx.)

So, the sum of money = Rs. x = Rs. 3358.47

(This will be considered as the final result.)

Hence, sum of money is Rs. 3358.47