Question 100

The amount received at 8% per annum compound interest after 2 yrs is Rs 72,900. What was the principal (in Rs)?

Solution

Let say, amount is P.

So,

$$P\left(1+\frac{8}{100}\right)^2=72900$$

or, $$P=\frac{72900}{1.1664}=62500.$$

D is correct choice.

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