Question 141
The compound interest on a certain sum invested for 2 years at 10% per annum is ₹1,522.50, the interest being compounded yearly. The sum is:
Solution
Let the amount =P
So, $$A=P(1+\dfrac{R}{100})^n$$
$$A=P(1+\dfrac{10}{100})^2$$
$$A=P\dfrac{11\times 11}{100}------(i)$$
Given that $$A-P=1522.5-----(ii)$$
From the equation (i) and (ii)
$$\Rightarrow P\dfrac{121}{100}-P=1522.5$$
$$\Rightarrow \dfrac{121P-100P}{100}=1522.5$$
$$\Rightarrow 21P=152250$$
$$\Rightarrow P=\dfrac{152250}{21}=Rs. 7250$$
Create a FREE account and get:
- Free SSC Study Material - 18000 Questions
- 230+ SSC previous papers with solutions PDF
- 100+ SSC Online Tests for Free
