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A sum invested at compound interest amounts to Rs 13,824 in 2 years and to Rs 16,588.80 in 3 years at a certain rate percent per
annum, interest being compounded yearly. What will be the amount of the same sum at the end of the 4th year (nearest to a
rupee)?
Rs20,238
Rs18,248
Rs19,907
Rs18,579
- Given Information:
- The sum becomes Rs 13,824 in 2 years.
- It is Rs 16,588.80 in 3 years.
- Compound interest annually.
- To Find:
- Amount at the end of the 4th year.
- Let's Calculate:
- From Rs 13,824 (2 years) to Rs 16,588.80 (3 years), the growth factor for 1 year is \( \frac{16,588.80}{13,824} \).
- Compute the growth factor: \( \frac{16,588.80}{13,824} \approx 1.20 \).
- Multiply Rs 16,588.80 by this growth factor for the 4th year:
- Rs 16,588.80 × 1.20 ˜ Rs 19,906.56.
- Answer Options:
- Option 1: Rs 20,238.
- Option 2: Rs 18,248.
- Option 3: Rs 19,907.
- Option 4: Rs 18,579.
- Conclusion:
- The amount after 4 years is approximately Rs 19,907.
- The closest option is Option 3: Rs 19,907.
Option 3: Rs 19,907 is the correct choice.
By: santosh ProfileResourcesReport error
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