Question
If an amount of Rs. 'x' is invested at an annual
compound interest rate of 20%, it grows to Rs. 'x + 2200' after 2 years. Calculate the value of 'x + 2200'.Solution
ATQ; (x + 2200) = x × {1 + (20/100)}2 (x + 2200) = x × (1.2)2 Or, x + 2200 = 1.44x Or, 2200 = 0.44x So, x = (2200/0.44) = 5000 Therefore, x + 2200 = 5000 + 2200 = 7200 Hence, option d.
Projected Annual Turnover: ₹24 crore
Borrower margin: 5%
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