Arithmetichard · Past Paper
A sum of money invested at compound interest amounts to Rs 4624 in 2 years and Rs 4913 in 3 years. Find the sum.
ARs 4000
BRs 4096
CRs 4200
DRs 4100
✓ Correct Answer: B — Rs 4096
Rate = (4913-4624)/4624 = 289/4624 = 1/16 = 6.25%. P = 4624 / (1 + 1/16)^2 = 4624 * (256/289) = 16 * 256 = 4096.
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