Question

Raj invests a certain amount, which grows to Rs. 7,200 at the end of 2 years and further increases to Rs. 8,640 at the end of 3 years, at a specific annual compound interest rate (compounded yearly). Determine the initial amount Raj invested.

A Rs.2,000
B Rs.2,500
C Rs.5,000
D Rs.3,500
E None of these
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