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Two unemployed young men decided to start a business together. They pooled in their savings, which came to Rs. 2,000. They were both lucky, their business prospered and they were able to increase their capital by 50 per cent every three years. How much did they have in all at the end of eighteen years?
(a) Rs. 22,781.25 (b) Rs. 24,150.25 (c) Rs. 28,140.50 (d) Rs. 18,000

Read Solution (Total 2)

use formula of cmpnd interst
2000*(1+.50)^6
as its given for every 3 yrs increamnt occurs
13 years agoHelpfull: Yes(3) No(1)

P=2000
T=18/3=6 (End of 18 year)
r=50
amount=P*(1+R/100)^t
amount=2000*(1+50/100)^6
==> amount=Rs. 22,781.25
5 years agoHelpfull: Yes(0) No(0)

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