Principal that amounts to ₹ 4913 in 3 years at 6 frac{1}{4} % per annum compound interest compound

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6.Interest

hard

The principal that amounts to ₹ $4913$ in $3$ years at $6 \frac{1}{4} \%$ per annum compound interest compounded annually (In ₹) is.

A

$3096$

B

$4076$

C

$4085$

D

$4096$

Solution

Let the principal be $P$.

$\therefore$

$P\left(1+\frac{6 \frac{1}{4}}{100}\right)^{3}=4913$

or $P\left(1+\frac{25}{400}\right)^{3}=4913$

or

$P=\frac{4913}{\left(1+\frac{1}{16}\right)^{3}}=\frac{4913 \times 16^{3}}{17^{3}}=₹ 4096$

Standard 13

Quantitative Aptitude

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