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Question

A sum of money amounts to Rs. 6690 after 3 years and to Rs. 10,035 after 6 years on compound interest. Find the sum.


A

Rs.4500

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B

Rs.4460

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C

Rs.4640

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D

Rs.4400

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Solution

The correct option is B

Rs.4460


Let the sum be Rs. P. Then,
P(1+R100)3 = 6690 .......(i) and P(1+R100)6 = 10035 .............(ii)
On dividing, we get (1+R100)3 = 100356690 = 32.
Substituting this value in (i), we get:
P × 32 = 6690 or P = (6690 × 23) = 4460.
Hence, the sum is Rs. 4460.


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