A sum of money invested at compound interest amounts to Rs. 4,624 in 2 years and Rs. 4,913 in 3 years. Find the sum.

Type: MCQ • Marks: 1

A. 1) Rs. 4,000

B. 2) Rs. 4,300

C. 3) Rs. 4,096

D. 4) Rs. 4,200

Explanation

Rate R = (4913 - 4624) / 4624 * 100 = 289 / 4624 * 100 = 6.25% p.a. = 1/16. P * (17/16)^2 = 4624 => P * 289 / 256 = 4624 => P = 16 * 256 = Rs. 4,096.

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UP TGT Mathematics

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