📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    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

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question