A) Rs 3400
B) Rs 3600
C) Rs 3800
D) Rs 3520
Correct Answer: B
Solution :
Let r% be the rate and n yr be the time. Then, \[4320=3000\,{{\left( 1+\frac{r}{100} \right)}^{n}}\] \[\Rightarrow \] \[{{\left( 1+\frac{r}{100} \right)}^{n}}=\frac{4320}{3000}=1.44\] \[\Rightarrow \] \[{{\left( 1+\frac{r}{100} \right)}^{n/2}}=\sqrt{1.44}=1.2\] In \[\frac{n}{2}yr\], Rs 3000 will amount to \[3000\,{{\left( 1+\frac{r}{100} \right)}^{n/2}}=3000\times 1.2\] = Rs 3600
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