A man invested a sum of money at compound interest. It amounted to Rs. 2420 in 2 years and to Rs. 2662 in 3 years. Find the sum ?

A. Rs. 1000

B. Rs. 2000

C. Rs. 5082

D. Rs. 3000

Answer: Option B

Solution(By Examveda Team)

$$\eqalign{ & {\text{R}}\% {\text{ = }}\frac{{2662 - 2420}}{{2420}} \times 100 \cr & = \frac{{242}}{{2420}} \times 100 \cr & = 10\% \cr & {\text{2 years CI}}\% \cr & {\text{ = 10 + 10 + }}\frac{{10 \times 10}}{{100}} \cr & = 21\% \cr & {\text{So, 121}}\% {\text{ = 2420}} \cr & \Rightarrow {\text{100}}\% {\text{ = 2000}} \cr} $$