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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 ]

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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." 6690`

`A = P (1 + R/100)^N`

`P (1 + R/100) ^ 3 = 6690 ->(1)`

For `N = 6, A = "Rs." 10035`

`A = P (1 + R/100)^N`

`P (1 + R/100) ^ 6 = 10035 ->(1)`

On dividing `(2)` by `(1)`, we get

`(1 + R/100) ^ 3 = 10035 / 6690 = 3 / 2`

putting this value in `(1)`, we get

`=> P = 4460`

The sum of money is Rs. `4460` .






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