Home

 Solve any problem (step by step solutions) Input table (Matrix, Statistics)
Mode :
SolutionHelp
Solution
 A sum of money amounts to Rs 6690 after 3 years and to Rs 10035 after 6 years on compound interest. Calculate the sum of money. [ Calculator, Method and examples ]Solution:Your problem -> A sum of money amounts to Rs 6690 after 3 years and to Rs 10035 after 6 years on compound interest. Calculate the sum of money.For N = 3, A = "Rs." 6690A = P (1 + R/100)^NP (1 + R/100) ^ 3 = 6690 ->(1)For N = 6, A = "Rs." 10035A = P (1 + R/100)^NP (1 + R/100) ^ 6 = 10035 ->(1)On dividing (2) by (1), we get(1 + R/100) ^ 3 = 10035 / 6690 = 3 / 2putting this value in (1), we get=> P = 4460The sum of money is Rs. 4460 .

Solution provided by AtoZmath.com
Any wrong solution, solution improvement, feedback then Submit Here
Want to know about AtoZmath.com and me