6.
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.


A:

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` .


