A sum of Rs5 760 amountgvtounis to Rs7 200 in 4 years and to Rs x in 12 years at a cenain rate per c...........

Quantitative Aptitude (MTS) Compound Interest

A sum of Rs5,760 amountgvtounis to Rs7,200 in 4 years and to Rs x in 12 years at a cenain rate per cent per annum, when the interest is compounded yearly in both the cases. What is the value of x?

This questions was previously asked in

SSC MTS 6th October 2021 Shift-3

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11500

11250

12500

12250

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Explanation:

Correct option 2: 11250

Principal = Rs. 5760
Amount = Rs. 7200
Time = 4 years
Formula used
A = P(1 + r%)^t
Calculation
7200= 5760(1+r%)⁴
⇒ 7200/5760 = (1 + r%)⁴- (1)
let the Principal 5760 becomes x amount in 12 years.
then, x = 5760(1 + r%)¹²
⇒x/5760 = [(1 + r%)⁴]³
⇒x/5760 = (7200/5760)³ (from 1)
⇒x= (7200 × 7200 x 7200 x 5760)/(5760 x 5760 x 5760)
⇒x= 11,250