The compound interest earned in the third and the fourth years on a certain sum of money are Rs.576 and Rs.691.2. Find the sum.

  • Option 1)

    Rs.1400

  • Option 2)

    Rs.1200

  • Option 3)

    Rs.1600

  • Option 4)

    Rs.2000

  • Option 5)

    Rs.1000

Answers (1)

Difference in 4th year interest and 3rd year interest = 115.2

Rate =  \frac{115.2}{576}\times 100= 20\: ^{0}/_{0}

A2 = 576 \times \frac{100}{120} = 480

A1 =480 \times \frac{100}{120} = 400

P = \frac{400}{20}\times 100 = 2000

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