Question
A man invested a sum of money at compound interest. It amounted to Rs. 2420 in 2 years and to Rs. 2662 in 3 years. Find the sum ?
Answer: Option B
$$\eqalign{
& {\text{R}}\% {\text{ = }}\frac{{2662 - 2420}}{{2420}} \times 100 \cr
& = \frac{{242}}{{2420}} \times 100 \cr
& = 10\% \cr
& {\text{2 years CI}}\% \cr
& {\text{ = 10 + 10 + }}\frac{{10 \times 10}}{{100}} \cr
& = 21\% \cr
& {\text{So, 121}}\% {\text{ = 2420}} \cr
& \Rightarrow {\text{100}}\% {\text{ = 2000}} \cr} $$
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$$\eqalign{
& {\text{R}}\% {\text{ = }}\frac{{2662 - 2420}}{{2420}} \times 100 \cr
& = \frac{{242}}{{2420}} \times 100 \cr
& = 10\% \cr
& {\text{2 years CI}}\% \cr
& {\text{ = 10 + 10 + }}\frac{{10 \times 10}}{{100}} \cr
& = 21\% \cr
& {\text{So, 121}}\% {\text{ = 2420}} \cr
& \Rightarrow {\text{100}}\% {\text{ = 2000}} \cr} $$
Was this answer helpful ?
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