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    Question

    A certain sum invested in compound interest (compounded

    annually) grows to 5040 in three years. If the rate of interest is 25% for the first year, 40% for the second year, and 50% for the third year, then what is the sum?
    A 2000 Correct Answer Incorrect Answer
    B 2040 Correct Answer Incorrect Answer
    C 1920 Correct Answer Incorrect Answer
    D 1940 Correct Answer Incorrect Answer

    Solution

    Given - A= 5040, r₁=25%, r₂=40%, r₃=50% P=? So now - A=P[1+r₁/100] [1+r₂/100] [1+r₃/100] 5040=P [1+25/100] [1+40/100] [1+50/100] 5040=P [125/100] [140/100]]150/100] P = [5040×1000000]/125×140×150 =5040×80/14×15 =403200/210=40320/21 P=1920

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