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.
3467
4560
4460
7890
C. 4460
Let the sum be rs.P.then
P(1+R/100)3=6690…(i) and P(1+R/100)6=10035…(ii)
On dividing, we get (1+R/100)3=10025/6690=3/2.
Substituting this value in (i),we get:
P*3/2=6690 or P=(6690*2/3)=4460
Hence, the sum is rs.4460.