A sum of money amounts to Rs. 4840 in 2 years and to Rs. 5324 in 3 years at compound interest compounded annually. Find the principal sum. MCQ with Answer and Explanation

Explanation:
Rate = (13824/11520 − 1) × 100 = 20%. P = 11520 / (1.2)² = 11520 / 1.44 = 8000.

Explanation:
The sum becomes 2^1 times in 5 years. It will become 64 (2^6) times in 6 * 5 = 30 years.

Explanation:
Effective rate of compound interest for 2 years at 4% = 4 + 4 + (44)/100 = 8.16%. Simple interest rate = 4 * 2 = 8%. Given 8.16% of sum = 204 => 1% of sum = 25. Simple Interest = 8% of sum = 8 * 25 = Rs. 200.