What will be the Sum? If

The compound interest on a certain sum of money for 2 years at 5% is ₹ 328, then the sum is

  1. ₹ 3000
  2. ₹ 3600
  3. ₹ 3200
  4. ₹ 3400
Manish Listener Asked on 16th July 2015 in Maths.
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  • 1 Answer(s)

    Answer: (3)  Rs.3200
    Explanation:-
    Let be the sum is Rs.X
    Formula-
    Compound interest = P[(1 + R/100)T – 1]
    Where, P = principal,  R = rate,   T = time.
    According to the question,
    X[(1 + 5/100)2 – 1 ] = 328
    X[(1 + 1/20)2 – 1] = 328
    X[(20 + 1)2/400 – 1] = 328
    X(441 – 400)/400  = 328
    41X/400 = 328
    X = 328 x 400/41
    X = 3200
    Hence, the answer is (3) Rs.3200.

    Anurag Mishra Professor Answered on 16th July 2015.
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