Question

A sum of money was invested at an annual compound interest rate of 8%, with interest compounded yearly. After 2 years, the total interest earned was Rs. 3,328. Determine the initial amount of money that was invested.

A Rs. 25,000
B Rs. 24,000
C Rs. 28,000
D Rs. 20,000
Practice Next

More Simple and compound interest Questions

Relevant for Exams:

Hey! Ask a query