Compound Interest Practice Test 4

Question : 13 of 40

Marks: +1, -0

Mr. Jha invests a certain amount for a 2 years at 6% p.a. to obtain a total amount of Rs. 33,384 at the end of 2 years. What was the amount invested by Mr. Jha?

Rs. 24560
Rs. 29,712
Rs. 30000
None of these

Validate

Solution:

Here,

P(1+6/100)^2=33384

∴P=33384×50/53×50/53

=29712

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