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    Question

    Raghav placed an amount of Rs. 'x' in an account with an

    annual compound interest rate of R%. After 3 years, the compounded annual amount is Rs.12167. Additionally, if Rs.7250 is invested at a simple interest rate of R% per annum, yielding Rs. 11600 after 4 years, determine the value of 'x'.
    A 6500 Correct Answer Incorrect Answer
    B 5500 Correct Answer Incorrect Answer
    C 7500 Correct Answer Incorrect Answer
    D 8000 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, 7250 × (R/100) × 4 = 11600 – 7250 Or, R = 15 Therefore, X × [1 + R/100]3= 12167 Or, X × [1.15 × 1.15 × 1.15] = 12167 Or, X = 12167/(1.15 × 1.15 × 1.15) = 8000

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