a sum of money amounts to rs 4624 in2 years and 4913..., Compound Interest, General Mathematics

Question:A sum of money amounts to Rs.`4624` in`2` years and to Rs.`4913` in `3` years at compound interest. The sum is :

A `Rs. 4096` 
B `Rs. 4260` 
C `Rs. 4335` 
D `Rs. 4360`

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+ AnswerA

+ ExplanationInterest on Rs.`4624` for `1` year 

`= Rs. (6083.50 - 5290)`

`= Rs.793.50`

:.Rate `= ((100 xx 793.50)/(4624 xx 1)%`

`= 6 1/4%`.

Now, x `(1 + 25/(4 xx 100))^2 = 4624`

`or x xx 17/16 xx 17/16 = 4624`

`:.x = (46 xx 16/17 xx 16/17)`

`= Rs. 4096`.

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