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A sum of money fetches Rs 408 as compound interest at the rate of 4 p.c.p.a at the end of two years. What is the sum ?
- ARs 6,000
- BRs 5,000
- CRs 4,000
- DCan’t be determined
Answer not set
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0
CCommunity
Solution
Let the principal be P.
Hence, CI = $P*(1 + 4\%)^2 $ - P = Rs 408
1.0816P - P = 408
P = 408 / 0.0816 = 5000
Let the principal be P.
Hence, CI = $P*(1 + 4\%)^2 $ - P = Rs 408
1.0816P - P = 408
P = 408 / 0.0816 = 5000
0
CCommunity
Solution
Let the principal be P.
Hence, CI = $P*(1 + 4\%)^2 $ - P = Rs 408
1.0816P - P = 408
P = 408 / 0.0816 = 5000
Let the principal be P.
Hence, CI = $P*(1 + 4\%)^2 $ - P = Rs 408
1.0816P - P = 408
P = 408 / 0.0816 = 5000