| A sum of money becomes Rs. 13380 after 3 yr and Rs. 20070 after 6 yr on compound interest. The sum (in Rs) is |
A) 8800
B) 8890
C) 8820
D) 9040
Correct Answer: C
Solution :
| Let the sum be Rs. x. |
| Then, \[x{{\left( 1+\frac{R}{100} \right)}^{3}}=13380\] ... (i) |
| and \[x{{\left( 1+\frac{R}{100} \right)}^{6}}=20070\] ...(ii) |
| On dividing Eq, (ii) by Eq. (i), we get |
| \[{{\left( 1+\frac{R}{100} \right)}^{3}}=\frac{20070}{13380}=\frac{3}{2}\] |
| From Eq. (i), we get |
| \[x\times \frac{3}{2}=13380\]\[\Rightarrow \]\[x=13380\times \frac{2}{3}=8920\] |
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