Question

Tick (✓) the correct answer:
The sum that amounts to Rs 4913 in 3 years at $6\frac{1}{4}\%$ per annum compounded annually, is
(a) Rs 3096
(b) Rs 4076
(c) Rs 4085
(d) Rs 4096

Answer 1

(d) Rs 4096

$$\begin{gathered} \mathrm{We}\mathrm{have}\mathrm{Rs}4913=\left\{P\times {\left(1+\frac{25}{100\times 4}\right)}^3\right\} \\ \Rightarrow \mathrm{Rs}4913=\left\{P\times {\left(\frac{16+1}{16}\right)}^3\right\} \\ \Rightarrow \mathrm{Rs}4913=\left\{P\times \left(\frac{17}{16}\right)\times \left(\frac{17}{16}\right)\times \left(\frac{17}{16}\right)\right\} \\ \Rightarrow \mathrm{Rs}4913=\frac{4913P}{4096} \\ \Rightarrow P=\mathrm{Rs}\frac{4913\times 4096}{4913}=\mathrm{Rs}4096 \end{gathered}$$