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    Question

    If after two years a sum becomes ₹ 4000 and after four

    years it becomes ₹6 000 at the same rate of compound interest (compounded annually), then what is the sum?
    A ₹2866.66 Correct Answer Incorrect Answer
    B ₹2666.66 Correct Answer Incorrect Answer
    C ₹2777.77 Correct Answer Incorrect Answer
    D ₹2888.88 Correct Answer Incorrect Answer

    Solution

    For compound interest, A = P (1 + r/100)t  According to the question ⇒ 4000 = P(1 + r/100)2       ---- (1) ⇒ 6000 = P (1 + r/100)4      ---- (2) From (2)/(1), ⇒ 3/2 = (1 + r/100)2 From (1) ⇒ 4000 = P × 3/2 ⇒ P = 8000/3 = Rs. 2666.66 ∴ The sum is Rs. 2666.66 

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