Question
Download Solution PDFFind the principal if the interest compounded at the rate of 12% per annum, compounding annually for 2 years is Rs. 1,908.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven
Compound interest after 2 years = Rs. 1,908
Rate of interest = 12% per annum
Concept:
CI = P [(1 + r/100)t - 1]
Solution:
CI = P [(1 + r/100)t - 1]
⇒ 1908 = P [(1 + 12/100)2 - 1]
⇒ 1908 = P [(1 + 3/25)2 - 1]
⇒ 1908 = P [(28/25)2 - 1]
⇒ 1908 = P [784/625 - 1]
⇒ 1908 = P × 159 / 625
⇒ P = 1908 × 625 / 159
⇒ P = 12 × 625 = Rs. 7500
Hence, the principal is Rs. 7,500.
Last updated on Jun 11, 2025
-> The SSC GD Notification 2026 will be released in October 2025 and the exam will be scheduled in the month of January and February 2026.
-> The UPSC Prelims Result 2025 and UPSC IFS Result 2025 has been released @upsc.gov.in
-> The SSC GD Merit List is expected to be released soon by the end of April 2025.
-> Previously SSC GD Vacancy was increased for Constable(GD) in CAPFs, SSF, Rifleman (GD) in Assam Rifles and Sepoy in NCB Examination, 2025.
-> Now the total number of vacancy is 53,690. Previously, SSC GD 2025 Notification was released for 39481 Vacancies.
-> The SSC GD Constable written exam was held on 4th, 5th, 6th, 7th, 10th, 11th, 12th, 13th, 17th, 18th, 19th, 20th, 21st and 25th February 2025.
-> The selection process includes CBT, PET/PST, Medical Examination, and Document Verification.
-> The candidates who will be appearing for the 2025 cycle in the exam must attempt the SSC GD Constable Previous Year Papers. Also, attempt SSC GD Constable Mock Tests.
-> UPSC Prelims Result 2025 Date Out soon @https://upsconline.nic.in/