Learn and practice Aptitude questions and answers with explanation for interview, competitive exam (Pariksha Corner )

Thursday, January 9, 2020

A certain sum when invested at 5% interest compounded annually for 3 years yields an interest of Rs.2,522. Find the Principal?

A certain sum when invested at 5% interest compounded annually for 3 years yields an interest of Rs.2,522. Find the Principal?
ARs.12,522
BRs.15,200
CRs.16,000
DRs.17,200

Correct answer is: Rs.16,000

Explanation:

Where, CI=[P{(1+R100)t1}]

P = Principal

R = Rate of interest

t = Time period

2522=[P{(1+5100)31}]P=25221.0531=Rs.16000

∴ Principal = Rs. 16,000

akarsh
answered Jan 10 '2020 at 12:10

All Comments

Post your answers here:

Post

Related Posts:

Categories