A sum of Rs 4000 becomes Rs 6000 in 1 year at a certain rate of compound interest. What will be the sum (in Rs) after 4 years?
Principal sum = Rs. 4000 and time period = 1 year
Let rate of interest = $$r\%$$
=> Amount after compound interest = Rs. 6000
=> $$P(1+\frac{R}{100})^T=6000$$
=> $$4000(1+\frac{r}{100})^1=6000$$
=> $$1+\frac{r}{100}=\frac{6000}{4000}=1.5$$
=> $$\frac{r}{100}=1.5-1=0.5$$
=> $$r=0.5\times100=50\%$$
$$\therefore$$ Amount after 4 years = $$4000(1+\frac{50}{100})^4$$
= $$4000(1+\frac{1}{2})^4=4000(\frac{3}{2})^4$$
=Â $$4000\times\frac{81}{16}$$
= $$250\times81=Rs.$$ $$20,250$$
=> Ans - (C)
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