If the compound interest on a certain sum at 5% p.a. for 2 years is Rs. 328, find the principal sum.

Type: MCQ • Marks: 1

A. 1) Rs. 3,200

B. 2) Rs. 3,600

C. 3) Rs. 3,000

D. 4) Rs. 3,500

Explanation

CI = P[(1.05)^2 - 1] = P[1.1025 - 1] = 0.1025 P. 0.1025 P = 328 => P = 328 / 0.1025 = Rs. 3,200.

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UP TGT Mathematics

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