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      Question

      A sum of money amounts to Rs. 10800 in 2 years at

      compound interest compounded annually at the rate of 20% per annum. What is the principal?
      A Rs.7500 Correct Answer Incorrect Answer
      B Rs.3520 Correct Answer Incorrect Answer
      C Rs.5520 Correct Answer Incorrect Answer
      D Rs.6200 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      ATQ, Amount = Principal x (1 + R/100)^2 10800 = P x (1 + 20/100)^2 10800 = P x (6/5)^2 10800 = P x 36/25 P = 10800 x 25 / 36 P = 7500 Hence, the correct answer is Rs. 7500.

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