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in Compound Interest by (49.2k points)
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The principal that amounts to Rs 4913 in 3 years at \(6\frac{1}{4}\) % per annum compound interest compounded annually is 

(a) Rs 4096 

(b) Rs 4085 

(c) Rs 4076 

(d) Rs 3096

1 Answer

+1 vote
by (53.1k points)
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Best answer

(a) Rs 4096

A = Rs 4913, n = 3, r = 6\(\frac{1}{4}\)% = \(\frac{25}{4}\)%, P = ?

\(\therefore\) 4913 = P\(\big(1+\frac{25}{400}\big)^3\) \(\Rightarrow\) 4913 = P\(\big(1+\frac{1}{16}\big)^3\)

\(\Rightarrow\) 4913 =P\(\big(\frac{17}{16}\big)^3\) \(\Rightarrow\) 4913 = P x \(\frac{4913}{4096}\)

\(\Rightarrow\) P = Rs 4096

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