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A sum becomes Rs, 10000 after 3 years and Rs, 20000 after 6 years on compound interest. The sum is
- a)Rs. 4000
- b)Rs. 5000
- c)Rs. 6000
- d)Rs. 9000
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
A sum becomes Rs, 10000 after 3 years and Rs, 20000 after 6 years on c...
For CI:
Where,
A is the amount at the end of time t,
P is the principal,
t is time,
r is rate
A sum becomes Rs, 10000 after 3 years and Rs, 20000 after 6 years on compound interest.
For t = 3yrs
Diving eq 3 by eq 2 we get,
Where,
A is the amount at the end of time t,
P is the principal,
t is time,
r is rate
A sum becomes Rs, 10000 after 3 years and Rs, 20000 after 6 years on compound interest.
For t = 3yrs
Diving eq 3 by eq 2 we get,
Most Upvoted Answer
A sum becomes Rs, 10000 after 3 years and Rs, 20000 after 6 years on c...
Given Data
- Principle amount (P) after 3 years = Rs. 10000
- Principle amount (P) after 6 years = Rs. 20000
Calculation
- Let the principle amount be P and rate of interest be R% per annum
- Using the compound interest formula: A = P(1 + R/100)^n, where A is the amount, P is the principle amount, R is the rate of interest, and n is the number of years
Calculating for 3 years
- A = P(1 + R/100)^3 = 10000
- P(1 + R/100)^3 = 10000
Calculating for 6 years
- A = P(1 + R/100)^6 = 20000
- P(1 + R/100)^6 = 20000
Solving the Equations
- Dividing the two equations: (P(1 + R/100)^6) / (P(1 + R/100)^3) = 20000 / 10000
- (1 + R/100)^3 = 2
- Taking cube root on both sides: 1 + R/100 = cube root of 2
- R = 100(cube root of 2 - 1)
Substitute the value of R back into the equation for 3 years
- P(1 + (100(cube root of 2 - 1))/100)^3 = 10000
- P(cube root of 2)^3 = 10000
- P * 2 = 10000
- P = Rs. 5000
Therefore, the initial sum of money (Principle amount) is Rs. 5000.
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A sum becomes Rs, 10000 after 3 years and Rs, 20000 after 6 years on compound interest. The sum isa)Rs. 4000b)Rs. 5000c)Rs. 6000d)Rs. 9000Correct answer is option 'B'. Can you explain this answer?
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