An amount deposited on compound interest becomes Rs 5700 after three years and Rs 6000 after four years. After 5 years this amount will become
Options:
A .  Rs 6316
B .  Rs 6316
C .  Rs 6132
D .  none of these
Answer: Option B Given information:
Amount deposited on compound interest becomes Rs 5700 after three years
Same amount becomes Rs 6000 after four years
Let's assume that the principal amount is P and the rate of interest is r, compounded annually. Then, we can use the following formula for compound interest: A = P(1 + r/n)^(nt) Where,A is the amount after t years,n is the number of times the interest is compounded in a year,t is the time in years,and r is the annual interest rate. Using this formula, we can form the following equations: 5700 = P(1 + r/1)^(13)6000 = P(1 + r/1)^(14) Dividing the second equation by the first, we get: (1 + r)^4 / (1 + r)^3 = 6000/5700 Simplifying, we get: 1 + r = 1.025 r = 0.025 Now, we can use the same formula to find the amount after 5 years: A = P(1 + r/1)^(1*5) Substituting the value of r, we get: A = P(1.025)^5 We don't know the value of P, but we can find it using the information given in the question. If the amount becomes Rs 5700 after 3 years, then the interest earned in the first 3 years is: I = 5700 - P Using the formula for compound interest, we can write: 5700 = P(1 + 0.025)^3P = 5700 / 1.025^3 Similarly, if the amount becomes Rs 6000 after 4 years, then the interest earned in the first 4 years is: I = 6000 - P Using the formula for compound interest, we can write: 6000 = P(1 + 0.025)^4P = 6000 / 1.025^4 We can equate these two values of P and solve for I: 5700 / 1.025^3 = 6000 / 1.025^4 I = 183.28 So, the principal amount is: P = 5700 - 183.28 = 5516.72 Now, we can use this value of P to find the amount after 5 years: A = 5516.72(1.025)^5 = 6316.10 Therefore, the correct answer is option B, Rs 6316.If you think the solution is wrong then please provide your own solution below in the comments section .
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