Compound Interest Practice Test 2

Question : 2 of 40

Marks: +1, -0

A sum amounts to Rs 1,352 in 2 years at 4%compound interest. The sum is:

Solution:

A = Rs 1,352 T = 2 year R = 4%

A=P(1+R/100)^T

⇒1352=P(1+4/100)^2

P={1352×25×25}/{26×26}=1250

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