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A sum amounts to Rs 8,028 in 3 years and...

A sum amounts to Rs 8,028 in 3 years and to Rs 12,042 in 6 years at a certain rate percent per annum, when the interest is compounded yearly. The sum is :

A

Rs 5,352

B

Rs 5,235

C

Rs 5,325

D

Rs 5,253

Text Solution

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The correct Answer is:
To find the principal sum (P) that amounts to Rs 8,028 in 3 years and Rs 12,042 in 6 years under compound interest, we can follow these steps: ### Step 1: Understand the relationship between amounts We know that the amount after 3 years (A1) is Rs 8,028 and after 6 years (A2) is Rs 12,042. The formula for compound interest is: \[ A = P(1 + r)^n \] where A is the amount, P is the principal, r is the rate of interest, and n is the number of years. ### Step 2: Set up the equations From the information given: 1. For 3 years: \[ A_1 = P(1 + r)^3 = 8028 \] 2. For 6 years: \[ A_2 = P(1 + r)^6 = 12042 \] ### Step 3: Divide the two equations To eliminate P, we can divide the second equation by the first: \[ \frac{A_2}{A_1} = \frac{P(1 + r)^6}{P(1 + r)^3} \] This simplifies to: \[ \frac{12042}{8028} = (1 + r)^{6 - 3} \] \[ \frac{12042}{8028} = (1 + r)^3 \] ### Step 4: Calculate the left side Now calculate the left side: \[ \frac{12042}{8028} = 1.5 \] So we have: \[ (1 + r)^3 = 1.5 \] ### Step 5: Solve for (1 + r) Now, take the cube root of both sides: \[ 1 + r = (1.5)^{1/3} \] Calculating this gives: \[ 1 + r \approx 1.1447 \] Thus: \[ r \approx 0.1447 \text{ or } 14.47\% \] ### Step 6: Substitute back to find P Now, we can substitute r back into one of the original equations to find P. Using the first equation: \[ 8028 = P(1 + 0.1447)^3 \] Calculating \( (1 + 0.1447)^3 \): \[ (1.1447)^3 \approx 1.5 \] Thus: \[ 8028 = P \cdot 1.5 \] Now solve for P: \[ P = \frac{8028}{1.5} \approx 5352 \] ### Final Answer The principal sum (P) is approximately Rs 5,352. ---
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  1. A sum amounts to Rs 8,028 in 3 years and to Rs 12,042 in 6 years at a ...

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