Question

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
• B. Rs. 4,260
• C. Rs. 4,360
• D. Rs. 4, 609

Answer 1

The correct option is A Rs. 4,096

S.I on Rs.4624 for 1 year=$4913-4624=289Rs.$
$InterestRate=\frac{100\times 289}{4624\times 1}=\frac{25}{4}$
Let the sum=x
$\Rightarrow x\times (1+\frac{25}{4\times 100}{)}^2=4624$
$\Rightarrow x=\frac{4624\times 16\times 16}{17\times 17}$
$\Rightarrow x=4096Rs.$