Question

Find the sum that will amount to Rs. $4,928$ in $2$ years at compound interest, if the rates for the successive years are $10$ per cent and $12$ per cent respectively.

• A. Rs. $3000$
• B. Rs. $4000$
• C. Rs. $5000$
• D. Rs. $6000$

Answer 1

Answer: (B)

Rs. $4000$

Let the sum be x

Amount after 2 year=Rs.4928

Rate=10% and 12%

Time=2 years

$Amount=P{(1+\frac{R}{100})}^t$

$\Rightarrow 4928=x(1+\frac{10}{100})(1+\frac{12}{100})$

$\Rightarrow 4928=x\times \frac{110}{100}\times \frac{112}{100}$

$\Rightarrow x=\frac{4928\times 100\times 100}{110\times 112}=Rs.4000$