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    Question

    A certain sum of money yields Rs.1261 as compound interest for 3 years at 5% per annum. Find the sum.

    A 8000 Correct Answer Incorrect Answer
    B 6000 Correct Answer Incorrect Answer
    C 4000 Correct Answer Incorrect Answer
    D 10000 Correct Answer Incorrect Answer

    Solution

    CI = Rs. 1261 ∴ A = CI + P = 1261 + P T = 3 years, R = 5% ⇒ 1261 + P = P [1 + (5/100)3] ⇒ 1261 + P = P× 1.053 ⇒ 1261 = 1.157625P – P ⇒ P = Rs.8000

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