A sum of money amounts to Rs 4,624 in 2 years and to Rs. 4,913 in 3 years at compound interest. The sum is
A
Rs. 4,096
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B
Rs. 4,260
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C
Rs. 4,360
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D
Rs. 4, 609
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Solution
The correct option is A Rs. 4,096 S.I on Rs.4624 for 1 year=4913−4624=289Rs. InterestRate=100×2894624×1=254 Let the sum=x ⇒x×(1+254×100)2=4624 ⇒x=4624×16×1617×17 ⇒x=4096Rs.