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    Question

    A certain sum when invested at compound interest

    (compounded annually) of 8% p.a. for 4 years, gives an interest of Rs. 4879.20. Calculate the approximate sum invested
    A 9,535 Correct Answer Incorrect Answer
    B 10,550 Correct Answer Incorrect Answer
    C 13,535 Correct Answer Incorrect Answer
    D None of these Correct Answer Incorrect Answer

    Solution

    ATQ, Let the sum invested be Rs. P. ATQ, Or, P+4879.2 = 1.3605P Or, 4879.2 = 1.3605P − P Or, 0.3605P = 4879.2  13,534.553  or ~ 13,535

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