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A man deposited a certain amount in a fixed deposit at r % p.α., interest being compounded annually. If the interest accrued for the fourth and fifth years are Rs 13310 and Rs 14641. what is the total interest accrued for the first three years?
  • a)
    Rs. 33,100
  • b)
    Rs. 33,000
  • c)
    Rs. 23,100
  • d)
    None of these
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
A man deposited a certain amount in a fixed deposit at r % p.α., inte...
The interests accrued each year on compound interest form a geometric progression with 1 , as the first year interest and common ratio of (1 + r/100) Therefore, interests for 1st, 2nd, 3rd, 4th and 5th years will be
I, I(1 + r/100)1, I(1 + r/100)2, I(1 + r/100)3, I(1 + F/100)4 respectively
Given, (1 + r/100)3 = 13310
and (1 + r/100)4 = 14641
2) divided by (1), we get (1 + r/100) = 14641 / 13310 = 1.1
∴ Sum of the first three years interests = 13310 / (1.1)3 + 13310 / (1.1)2 +13310 / (1.1)1
= 13316 / 1.331 + 13316 / 2.21 + 13316 / 2.1
= 10000 + 11000 + 12100
= Rs. 33100
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A man deposited a certain amount in a fixed deposit at r % p.α., interest being compounded annually. If the interest accrued for the fourth and fifth years are Rs 13310 and Rs 14641. what is the total interest accrued for the first three years?a)Rs. 33,100b)Rs. 33,000c)Rs. 23,100d)None of theseCorrect answer is option 'A'. Can you explain this answer?
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A man deposited a certain amount in a fixed deposit at r % p.α., interest being compounded annually. If the interest accrued for the fourth and fifth years are Rs 13310 and Rs 14641. what is the total interest accrued for the first three years?a)Rs. 33,100b)Rs. 33,000c)Rs. 23,100d)None of theseCorrect answer is option 'A'. Can you explain this answer? for Railways 2024 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about A man deposited a certain amount in a fixed deposit at r % p.α., interest being compounded annually. If the interest accrued for the fourth and fifth years are Rs 13310 and Rs 14641. what is the total interest accrued for the first three years?a)Rs. 33,100b)Rs. 33,000c)Rs. 23,100d)None of theseCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Railways 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A man deposited a certain amount in a fixed deposit at r % p.α., interest being compounded annually. If the interest accrued for the fourth and fifth years are Rs 13310 and Rs 14641. what is the total interest accrued for the first three years?a)Rs. 33,100b)Rs. 33,000c)Rs. 23,100d)None of theseCorrect answer is option 'A'. Can you explain this answer?.
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