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      Question

      A sum is lent on compound interest for 2 years at 15%

      p.a. If the compound interest on the sum is Rs.5482.5, find the sum.
      A 17000 Correct Answer Incorrect Answer
      B 15000 Correct Answer Incorrect Answer
      C 18000 Correct Answer Incorrect Answer
      D 14000 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      Let the sum be Rs.x. According to question, => 5482.5 = x(1.15)2 – x => 5482.5 = 1.3225x – x => 5482.5 = 0.3225x => x = Rs.17000

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