# A certain sum if money compounded annually becomes Rs6750 after 1year and Rs 7873.20 after 3years.find the sum.

1
by RajlaxmiKashyap

• qais
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2016-01-29T11:10:35+05:30

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Let the sum of Rs x
As, A =P (1 +R/100)^t
⇒6750 = x(1+R/100)
⇒(1+R/100)= 6750/x______(1)
After 1 years Rs 6750 will become the sum for the amount Rs 7873.20 for 2 years
so, A =P (1 +R/100)^t
⇒7873.20 = 6750 (1 +R/100)²
now putting the value of (1),
7873.20 = 6750 ×(6750/x)²
⇒x² =( 6750)³/7873.20
= 39062500
⇒x =√39062500
x =Rs 6250
Rate can be determined from the equation (1), by substituting this value.
(1+R/100) = 6750/6250
⇒R/100 = 2/25
⇒R = 8%
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