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...
When invested at 10% annual simple interest, a sum becomes ₹ 3360 after 2 years. What will be the simple interest (in ₹) on the same sum for 2 years at the same rate of interest?
When invested at 10% annual simple interest, a sum becomes ₹ 3360 after 2 years....
Anand has ₹1407 with him. He divides this amount between his two sons,
Anand has ₹1407 with him. He divides this amount between his two sons, Anil and...
If at same rate of interest, in 2 years
If at same rate of interest, in 2 years, the simple interest is ₹42 and...
Two equal sums are lent at 6% and 9% simple interest per annum respectively. The interest received on both sums after 4 years differs by ₹150. Find each sum.
Two equal sums are lent at 6% and 9% simple interest per annum respectively. The...
Find the simple interest (in ₹) on ₹2500
Find the simple interest (in ₹) on ₹2500 as a sum borrowed at 4% per...
₹500 is invested at 12% per annum simple interest, and a certain sum is invested at 10% per annum simple interest. If the total interest on both sums after 4 years is ₹480, what is the second sum?
₹500 is invested at 12% per annum simple interest, and a certain sum is invested...