A sum of money amounts to Rs 4 624 in 2 years and to Rs 4 913 in 3 years at a certain rate of intere...........

Quantitative Aptitude (CHSL) Compound Interest

A sum of money amounts to Rs 4,624 in 2 years and to Rs 4,913 in 3 years at a certain rate of interest, when interest is compounded per annum. The sum is _______.

This questions was previously asked in

SSC CHSL 3rd June 2022 Shift-1

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Rs 4,412

Rs 4,335

Rs 4,260

Rs 4,096

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Explanation:

Correct option 4: Rs. 4,096
Given:
In 2 years = Rs. 4624
In 3 years = Rs. 4913
Concept used:
If the year difference in Cl is 1 so we can directly calculate the rate %
Solution:
=> Rate % = (4913-4624) x 100/4624
=> Rate %= 6.25%
=> 6.25% = 1/16
Let P = 16, A = 17
For two years
P A
16 17
16 17
256 289
=> 289 unit = 4624
=> 1 unit = 16
=> P = 256 x 16
=> P = 4096 Rs.
:. The sum of money is 4096 Rs.