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Find the sum of money when increases 1/10 of itself every year amount to Rs. 600 in 5 years.
- a)Rs. 380
- b)Rs. 280
- c)Rs. 480
- d)None
- e)All of the above
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Find the sum of money when increases 1/10 of itself every year amount ...
This is an example of an exponential growth problem. Exponential growth can be modeled by the equation P = a(r)t, where a is the initial amount, t is the time that has passed, P is the amount after time t, and r is the rate of growth.
For your problem, t = 5 years and P = 600. The money increases by 1/10 = 10% each year, so each year, the amount of money is 110% of the previous year. That's a rate of growth of r = 1.1. So:
600 = a(1.1)5
600 = 1.61051a
372.55 = a
The sum was initially Rs. 372.55.
Most Upvoted Answer
Find the sum of money when increases 1/10 of itself every year amount ...
Let the initial sum of money be x.
After one year, the sum of money will become x + 1/10 x = 11/10 x.
After two years, the sum of money will become 11/10 x + 1/10 (11/10 x) = 121/100 x.
Similarly, after three years, it becomes 1331/1000 x, after four years it becomes 14641/10000 x, and after five years it becomes 161051/100000 x.
According to the question,
161051/100000 x = 600
x = 600 x 100000/161051
x = 372.95
Therefore, the initial sum of money is Rs. 372.95.
None of the given options is correct.
After one year, the sum of money will become x + 1/10 x = 11/10 x.
After two years, the sum of money will become 11/10 x + 1/10 (11/10 x) = 121/100 x.
Similarly, after three years, it becomes 1331/1000 x, after four years it becomes 14641/10000 x, and after five years it becomes 161051/100000 x.
According to the question,
161051/100000 x = 600
x = 600 x 100000/161051
x = 372.95
Therefore, the initial sum of money is Rs. 372.95.
None of the given options is correct.
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Community Answer
Find the sum of money when increases 1/10 of itself every year amount ...
The answer will be 372.95 by exponential growth P=a(r)t.
by solving further you'll obtain the answer and it's none of the above option(d)
by solving further you'll obtain the answer and it's none of the above option(d)
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Find the sum of money when increases 1/10 of itself every year amount to Rs. 600 in 5 years.a)Rs. 380b)Rs. 280c)Rs. 480d)Nonee)All of the aboveCorrect answer is option 'D'. Can you explain this answer? for Quant 2025 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Find the sum of money when increases 1/10 of itself every year amount to Rs. 600 in 5 years.a)Rs. 380b)Rs. 280c)Rs. 480d)Nonee)All of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the sum of money when increases 1/10 of itself every year amount to Rs. 600 in 5 years.a)Rs. 380b)Rs. 280c)Rs. 480d)Nonee)All of the aboveCorrect answer is option 'D'. Can you explain this answer?.
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