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Q: Find the principal if the interest compounded at the rate of 10% per annum for two years is Rs. 420 ?

  • 1
    Rs. 2000
  • 2
    Rs. 2100
  • 3
    Rs. 1900
  • 4
    Rs. 2150
  • Show Answer
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Answer : 1. "Rs. 2000"
Explanation :

Answer: A) Rs. 2000 Explanation: Given, Compound rate, R = 10% per annumTime = 2 yearsC.I = Rs. 420Let P be the required principal.A = (P+C.I)Amount, A = P1 + r100n (P+C.I) = P1 + 101002 (P+420) = P[11/10][11/10] P-1.21P = -420 0.21P = 420 Hence, P = 420/0.21 = Rs. 2000

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