A sum of money becomes Rs.6690 after three years and Rs.10.035 after six years on compound interest. The sum is________?

A. Rs.4400
B. Rs.4445
C. Rs.4460
D. Rs.4520

Explanation:

Sum be P

P(1 + R/100)³ = 6690 – (i)
P(1 + R/100)² = 10, 035 – (ii)
By dividing (i) and (ii)
(1 + R/100)³ = 10035/6690 = 3/2
Therefore, P = (6690 x 2/3) = Rs. 4460

Correct Answer: Rs.4460 ✔

Last Updated: February 07, 2020