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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?
option
(a) Rs. 22,781.25
(b) Rs. 24,150.25
(c) Rs. 28,140.50
(d) Rs. 18,000
Read Solution (Total 3)
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- ans A
- 14 years agoHelpfull: Yes(2) No(0)
- 2000 * (1.5)^6
- 9 years agoHelpfull: Yes(0) No(0)
- P = 2000, r = 50/100 = 0.5, t =18/3= 6 (number of years)
C = P ( 1 + r )^(t)
C = 2000 ( 1 + 0.5)^(6)
C = 22781.25rs. - 9 years agoHelpfull: Yes(0) No(0)
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