Multiple Choice Questions on A sum of money becomes Rs 35 280 after 2 years and Rs 37 044 after 3 years when lent on compound int........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A sum of money becomes Rs 35 280 after 2 years and Rs 37 044 after 3 years when lent on compound int...........

Quantitative Aptitude ( CCS) Compound Interest
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    A sum of money becomes Rs 35,280 after 2 years and Rs 37,044 after 3 years when lent on compound interest. Find the principal amount. 

    Rs 32,000

    Correct Answer

    Rs 28,000

    Incorrect Answer

    Rs 31,500

    Incorrect Answer

    Rs 32,500

    Incorrect Answer
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    Explanation:

    P[1 + r/100]3 = 37,044, and P[1 + r/100]2 = 35,280
    Divide both equations, [1 + r/100] = 37044/35280 = 21/20
    So P[21/20]2 = 35280
    P=35280*20/21*20/21
    P=32000

    By: Pranav Gupta
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