Multiple choice

An amount becomes 8028 in 3 years at a fixed percentage interest rate and 12042 in 6 years, when the interest is compounded annually. What is the actual amount?

  1. Rs.5352

  2. Rs.5235

  3. Rs.5253

  4. Rs.5325
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Let P be principal and r be rate. P(1+r)³ = 8028, P(1+r)⁶ = 12042. Dividing: (1+r)³ = 12042/8028 = 1.5. So P = 8028/1.5 = 5352. Using 3-year amount: 8028/1.5 = 5352, which matches option A.

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