ABC26GN4190 · Compound Interest
Subject: General Aptitude · Chapter: Compound Interest · Exam: · Marks: · Difficulty:
A sum of money invested at compound interest amounts to ₹ 4624 in 2 years and to ₹ 4913 in 3 years. The sum of money is :
(a)₹ 4096
(b)₹ 4260
(c)₹ 4335
(d)₹ 4360
Answer
Explanation
S.I. on ₹ 4624 for 1 year $=₹(4913-4624)=₹ 289$. $$\text { ∴ Rate }=\left(\frac{100 \times 289}{4624 \times 1}\right) \%=6 \frac{1}{4} \% \text {. }$$ Now, $x\left(1+\frac{25}{4 \times 100}\right)^{2}=4624$ or $x \times \frac{17}{16} \times \frac{17}{16}=4624$ $$\text { or } x=\left(4624 \times \frac{16}{17} \times \frac{16}{17}\right)=₹ 4096 \text {. }$$
Explanation as extracted from the printed page; notation may be imperfect.
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