Question

A sum of money invested at compound interest amounts to Rs $$4624$$ in $$2$$ years and to Rs $$4913$$ in $$3$$ years. The sum of money is________

A
Rs 4360
B
Rs 4260
C
Rs 4335
D
Rs 4096

Solution

The correct option is D Rs $$4096$$Let $$x$$ be the sum of money be $$x$$S.I. on Rs. $$4624$$ for $$1$$ year $$=$$ Rs. $$(4913-4624)=$$ Rs. $$289$$.$$\therefore$$ Rate $$=\dfrac {100\times 289}{4624\times 1}\%=6\dfrac {1}{4}\%$$Now, $$x\left (1+\dfrac {25}{4 \times 100}\right)^2=4624$$ or $$x\times \dfrac {17}{16}\times \dfrac {17}{16}=4624$$$$\therefore x=\left (4624\times \dfrac {16}{17}\times \dfrac {16}{17}\right)$$$$\therefore x=$$ Rs. $$4096$$Thus, the sum of money is Rs. $$4096$$.Mathematics

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