Multiple Choice Questions on Find the principal if the interest compounded at the rate of 10 per annum for two years is Rs 420 ........ for HAS Exam Preparation

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Multiple Choice Questions

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

Quantitative Aptitude (HAS) Compound Interest
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    Find the principal if the interest compounded at the rate of 10% per annum for two years is Rs. 420 ?

    1000 rs.

    Incorrect Answer

    1500 rs.

    Incorrect Answer

    2000 rs.

    Correct Answer

    2500 rs.

    Incorrect Answer
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    Explanation:

    Compound rate, R = 10% per annum
    Time = 2 years
    C.I = Rs. 420
    Let P be the required principal.
    A = (P+C.I)
    Amount, A = P(1 + (r/100))n

    (P+C.I) = P[1 + (10/100)]2

    (P+420) = P[11/10][11/10]

    P-1.21P = -420

    0.21P = 420

    P = 420/0.21 = Rs. 2000

    Hence, option 3 is the correct answer.

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