Since the question asks for an approximate value, I assumed that the last decimals were probably removed due to rounding (actual answer is 0.25633041...). Consequently, relying on the last decimal could backfire. Anyways, there is probably a better way to solve this, but I did the following:
104^24 / 100^25 = 1.04^24 / 100
From there, you can assume that 1.04^24 probably won’t lead to a value much higher than 2 or 3.
Thus, ~2/100 ≈ .026.
To double check my assumption, I used the interest rate rule of 72. I treated 1.04 like an interest rate and applied the rule of 72.
72/4 = 18
This means it takes approximately 18 compounding periods for this value to double, going from 1 to 2 in this case. Doubling it again (giving a value of 4) would take another 18 periods. Therefore, I knew the numerator of 1.04^24 (or 24 periods) would fall somewhere between 2 and 4, giving us an answer that falls between .02 and .04. In this case, A stands out as the clear choice.
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