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Question

In compound interest, the principal amount ₹ 2000 became ₹ 3500 after first year, then the principal for second year =  ______


  1. 1500

  2. ₹ 2000

  3. ₹ 3500

  4. ₹ 2500


Solution

The correct option is C

₹ 3500


In Compound Interest,
Principal for the 2nd year is the same as total amount after 1st year.
Hence, Principal (2nd year) = Amount (1st year) = ₹ 3500

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