Find the principal which amounts to ₹31,492.80 after 3 years at 8% interest per annum, compounded annually.
Given:
Amount = ₹31,492.80
Time = 3 years
Rate = 8% per annum compounded annually
Formula Used:
Amount = Principal ×
Solution:
31492.80 =
31492.80 =
31492.80 = P × 1.259712
P = = 25000
Therefore, the principal is ₹25,000.
Final Answer
So the correct answer is (c)
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Suggested Test Series
Suggested Test Series
The amount on a sum of ₹4,200 at 20% per annum compound interest, compounded annually, in 2 years will be:
The amount on a sum of ₹4,200 at 20% per annum compound interest, compounded annually, in 2 years will be:
The amount on a sum of ₹4,400 at 5% per annum compound interest, compounded annually, in 2 years will be:
The amount on a sum of ₹5,200 at 10% per annum compound interest, compounded annually, in 2 years will be:
Find the principal which amounts to ₹31,492.80 after 3 years at 8% interest per annum, compounded annually.
Jaspreet deposited a sum of ₹28,450 at 20% rate of interest per annum, compounded annually. The total amount received by Jaspreet after 2 years is:
The amount on a sum of ₹2,800 at the rate of 5% per annum compound interest, compounded annually, in 2 years will be:
On an amount of ₹2,00,000, a bank gives ₹1,04,175 as interest in 3 years. If the interest is compounded annually, then what is the interest rate per annum?
Ashish has Rs. 1218 with him. He invested money for Arun and Mahesh at 10% compound interest annually. Arun invested for 11 years and Mahesh for 12 years. Both got equal amounts. How much (in ₹) did Ashish give to Mahesh?
Ashok has Rs. 1612 with him. He divided it amongst his sons Raj and Varun and asked them to invest it at 8% rate of interest compounded annually. It was seen that Raj and Varun got same amount after 16 and 17 years respectively. How much (in Rs. ) did Ashok give to Raj?
