A certain sum amounts to ₹7,200 in 2 years at an annual compound interest rate of 6%, compounded yearly. Find the principal amount (in ₹, rounded to the nearest integer).
A certain sum amounts to ₹7,200 in 2 years at an annual compound interest rate of 6%, compounded yearly. Find the principal amount (in ₹, rounded to the nearest integer).
एक निश्चित राशि 6% वार्षिक चक्रवृद्धि ब्याज की दर से 2 वर्षों में Rs.7,200 हो जाती है, जिस पर ब्याज वार्षिक रुप से चक्रवृद्धि किया जाता हैं। वह राशि (Rs.में, निकटतम पूर्णांक तक) ज्ञात कीजिए ।
Detailed Solution & Logic
Rs. 6,408
Given:
Amount $A = 7200$, rate $r = 6%$, time $t = 2$ years
Step 1: Compound interest formula
$A = P(1 + \frac{r}{100})^t$
$7200 = P(1.06)^2$
$7200 = P \times 1.1236$
Step 2: Solve for $P$
$P = \frac{7200}{1.1236}$
$P \approx 6406.6$
Step 3: Round off
$P \approx 6407$
Closest option = 6408
Final Answer: Rs. 6408
Similar Practice Questions
Amit invests a sum of ₹5400
Amit invests a sum of ₹5400 and Gopal invests a sum of ₹9400 at the...
What sum (in ₹) will earn a simple interest of ₹240
What sum (in ₹) will earn a simple interest of ₹240 in 4 years at...
Find the simple interest (in ₹) if a sum of ₹400 is borrowed for 5.5 years at 4% per annum rate of interest.
Find the simple interest (in ₹) if a sum of ₹400 is borrowed for 5.5...
If a sum amounts to ₹12,900 at the end of the 4th year and ₹14,250 at the end of the 5th year at simple interest, what is the rate of interest?
If a sum amounts to ₹12,900 at the end of the 4th year and ₹14,250...
Find the simple interest (in ₹) on ₹2500
Find the simple interest (in ₹) on ₹2500 as a sum borrowed at 4% per...
A sum of money doubles itself at compound interest in 15 years. In how many years will it become eight times?
A sum of money doubles itself at compound interest in 15 years. In how many...
A builder borrows ₹2550, which is to be repaid in two equal annual installments at the end of each year, with compound interest at the rate of 4% per annum. What will be the amount of each installment?
A builder borrows ₹2550, which is to be repaid in two equal annual installments at...