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.

    A RS.1000 Correct Answer Incorrect Answer
    B RS.2000 Correct Answer Incorrect Answer
    C RS.5080 Correct Answer Incorrect Answer
    D RS.3000 Correct Answer Incorrect Answer

    Solution

    R% = (2662 - 2420)/2420 x 100 = 242/2420 x 100 = 10% 2 years CI % = 10 + 10 + 100/100 = 21% So, 121% = 2420 100% = 2000

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