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

Compound Interest 29/04/2021

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

Related Mcqs:

    Find the compound interest and the amount on Rs.8000 at 5% per annum for 3 years when C.I is reckoned yearly?
    A. Rs.1261 B. Rs.1440 C. Rs.1185 D. Rs.1346...
    Simple Interest on a sum at 4% per annum for 2 years is 80. The compound interest on the same sum for the same period is_________?
    A. Rs. 81.60 B. Rs. 160 C. Rs. 1081.60 D. None of these...
    The difference between simple interest and compound on Rs. 1200 for one year at 10% per annum reckoned half-yearly is:________?
    A. Rs. 2.50 B. Rs. 3 C. Rs. 3.75 D. Rs. 4...
    Find the least number of complete years in which a sum of money put out at 25% compound interest will be more than double of itself?
    A. 6 years B. 1 year C. 2 years D. 4 years...
    A sum of Rs.4800 is invested at a compound interest for three years, the rate of interest being 10% p.a., 20% p.a. and 25% p.a. for the 1st, 2nd and the 3rd years respectively. Find the interest received at the end of the three years.
    A. Rs.2520 B. Rs.3120 C. Rs.3320 D. Rs.2760 E. None of these...

Leave a Reply

Your email address will not be published. Required fields are marked *