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Rs P was invested in compound interest at 20% p.a. for two years, and the total amount after two years is Rs 8064. Find P.
Question

Rs P was invested in compound interest at 20% p.a. for two years, and the total amount after two years is Rs 8064. Find P.

A.

5500

B.

4800

C.

5600

D.

5000

E.

4500

Correct option is C

Cumulative compound interest = (20+20+20×20100)%=44%(20 + 20 + \frac{20 \times 20}{100})\% = 44\%
ATQ,
P×144100=8064P \times \frac{144}{100} = 8064
P = 5600

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