A sum is invested for 3 years compounded at 5%, 10% and 20 % respectively.
A sum is invested for 3 years compounded at 5%, 10% and 20 % respectively. In three years, if the sum amounts to Rs. 1386, then find the sum.
Answer/Solution
Rs. 1000
Steps/Work
Explanation:
1386 = P(1+5/100)(1+10/100)(1+20/100)
1386 = P(21/20)(11/10)(6/5)
P = (1386 × 20 × 10 × 5)/(21 × 11 × 6) = (66 × 20 × 10 × 5)/(11 × 6 = 20 × 10 × 5) = Rs. 1000
i.e., the sum is Rs.1000
Answer: Option B
1386 = P(1+5/100)(1+10/100)(1+20/100)
1386 = P(21/20)(11/10)(6/5)
P = (1386 × 20 × 10 × 5)/(21 × 11 × 6) = (66 × 20 × 10 × 5)/(11 × 6 = 20 × 10 × 5) = Rs. 1000
i.e., the sum is Rs.1000
Answer: Option B