Question discussion

A sum of money amounts to ₹6,050 in 2 years and ₹6,655 in 3 years at compound interest (compounded annually). What is the sum?

856Medium DSSSB TGT Computer Science 0 replies 1 views
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A sum of money amounts to ₹6,050 in 2 years and ₹6,655 in 3 years at compound interest (compounded annually). What is the sum?

  • A₹4,800
  • B₹5,000
  • C₹5,200
  • D₹5,500
Correct answer: B

Explanation

The extra year multiplies the amount by 6655/6050 = 1.1 (10% rate), so the principal is 6050/1.1² = ₹5,000.

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