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A certain sum of money becomes Rs.28800 in 2 years at 20% per annum of compound interest (Compounded annually). The sum of money is:
Question



A certain sum of money becomes Rs.28800 in 2 years at 20% per annum of compound interest (Compounded annually). The sum of money is:

A.

Rs.24000

B.

Rs.22000

C.

Rs.21000

D.

Rs.20000

Correct option is D

Given:
Rate of interest = 20%
Time = 2 years
Principle = ₹ 28,800
Compounded Amount


Let the Principle be P.






= ₹ 20000

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