Question 63

A sum of money becomes Rs. 1,08,000/- after 3 years and becomes Rs. 1,92,000/- after 9 years on same rate of compound interest. Then, that sum of money is (in rupees)

Solution

Share

Let the rate of interest be R and $$1+\frac{R}{100}=m$$

Hence, 108000 = P*$$m^3$$ and 192000 = P*$$m^9$$  

Dividing the second by first, we get $$m^6=\frac{16}{9}$$
Hence, $$m^3=\frac{4}{3}$$ , substituting in the first equation, we get P = 81,000

Get AI Help

View More Questions From Reasoning

Create a FREE account and get:

  • Download Maths Shortcuts PDF
  • Get 300+ previous papers with solutions PDF
  • 500+ Online Tests for Free

Book Free CAT Mentorship

Get personalized CAT strategy from a 99%iler

500+ students mentored
CAT mentor

Join CAT 2026 course by 5-Time CAT 100%iler

Start your IIM journey with the right preparation and crack CAT 2026.

Enroll Now
Ask AI