Find the principal which will give compound interest of Rs 408 in 2 years at 4% pa., compounded annually.

Rs 6,000

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Rs 6,500

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Rs 5,000

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Rs 5,500

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Solution

The correct option is C
Rs 5,000

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4 \frac{1}{2}

6 %

Find the principal which gives an amount of Rs 6,174 at 5% p.a. in 2 years, interest being compounded annually.

P r i n c i p a l = R s . 4000

R a t e = 6 %

T i m e = 3 y e a r s

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