Compound Interest Practice Test 2

Question : 40 of 40

Marks: +1, -0

The principal amount which yields a compound interest of Rs 208 in the second year at 4% is:

Solution:

SI ={P×1×4}/100=P/25

New P

=P+P/25=26/25P

Now again simple interest

208={26P}/25×1×4/100

P={25×25×208}/26=5000

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