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Multiple choice

The sum of money which become Rs. 4840 at 10% rate of compound interest after two years is-

  1. Rs. 2000

  2. Rs. 3000

  3. Rs. 4000

  4. Rs. 3480

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

For compound interest: A = P(1 + r/100)^t. Here 4840 = P(1 + 10/100)² = P(1.1)² = 1.21P. So P = 4840/1.21 = 4000. Option C is correct.

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