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    Question

    A certain sum of money is amount to Rs. 62500 in 3 years

    at 25% per annum compounded annually, what is the sum of money?
    A Rs 30000 Correct Answer Incorrect Answer
    B Rs 32000 Correct Answer Incorrect Answer
    C Rs 34000 Correct Answer Incorrect Answer
    D Rs 31000 Correct Answer Incorrect Answer

    Solution

    Amount = Rs. 62500
    R = 25% per annum
    Let principal is Rs. P
    We know that
    Amount = P(1 + R/100) T
    62500 = P (1 + 25/100) 3
    P = 62500 * 64/125
    P = Rs. 32000

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