Question
Shreya invests an amount of Rs. (3600 + x) at an annual
compound interest rate of 12% for 2 years. The total interest earned by her after 2 years is Rs. 1017.60. What is the value of 32% of 'x'?Solution
CI = P (1 + R/100)t - P ATQ, (3600 + x) X (1.12)Â 2Â - (3600 + x) = 1017.6 Or, (3600 + x) X 0.2544 = 1017.6 Or, 915.84 + 0.2544x = 1017.6 Or, 0.2544x = 101.76 So, 'x' = 400 Therefore, required value = 400 x 0.32 = 128
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