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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