Question

A certain sum amounts to Rs 72900 in 2 years at 8% per annum compound interest Find the sum

• A. Rs 72000
• B. Rs 62500
• C. Rs 135000
• D. None of these

Answer 1

Answer: (B)

Rs 62500

$A=P(1+\frac{R}{100}{)}^T$
A=72900,R=8%.T=2 years,P=?
$72900=P(1+\frac{8}{100}{)}^2$
$P=72900\times \frac{100}{108}\times \frac{100}{108}$
$P=\frac{1000000}{16}=62500Rs.$