A sum of amounts to 27 900 in 3 years and to 41 850 in 6 years at a certain rate per cent per annum ...........

Quantitative Aptitude (MTS) Compound Interest

A sum of amounts to 27,900 in 3 years and to 41,850 in 6 years at a certain rate per cent per annum when the interest is compounded yearly. The value of is:

This questions was previously asked in

SSC MTS 26th October 2021 Shift-3

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18,400

17,600

17,800

18,600

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Explanation:

Correct option:4

Amount = Principal(1 + Rate%)^t where t represents time respectively
27,900 = x(1 + r%)³
27,900/x = (1 + r%)³ ---- (1)
41,850 = x(1+ r%)⁶
41,850/x=(1+r%)³

after solving we get x=18600