Question
Download Solution PDFAt the same rate of annual compound interest if a sum becomes Rs. 12,000 in 3 years and Rs.15000 in 6 years, then the principal amount (in rupees) is
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
At the same rate of annual compound interest,
In 3 years, the sum becomes Rs. 12,000
In 6 years, The sum becomes Rs.15000
Formula:
At the rate of compound interest the amount = P(1 + R/100)t
Where, t = time
R = rate
P = Principal
Calculation:
From the formula
12000 = P(1 + R/100)3 .............(1)
15000 = P(1 + R/100)6 ...........(2)
By eq (1) ÷ eq (2)
\(12\over 15\) = \((1 + R/100)^3 \over (1 + R/100)^6\)
(1+R/100)3 = 15/12 = 5/4
By putting this value in equation 1 we get
P = 12000 x 4/5 = 9600
The principal amount (in rupees) is Rs. 9600
Last updated on Jun 3, 2025
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