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    Question

    A sum of money is invested at compound interest, with

    the rate of interest being 10% per annum for the first year and 12% per annum for the second year. If the total interest earned after two years is ₹1,276, find the initial principal amount.
    A 5250 Correct Answer Incorrect Answer
    B 5450 Correct Answer Incorrect Answer
    C 5500 Correct Answer Incorrect Answer
    D 5780 Correct Answer Incorrect Answer
    E 6200 Correct Answer Incorrect Answer

    Solution

    Let the principal amount = P P+1276 = 154P/125 1276 = 29P/125 P = 1276 × 125/29 P = 5,500

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