A sum becomes ₹6,600 in 2 years and ₹7,920 in 3 years at compound interest.…
2025
A sum becomes ₹6,600 in 2 years and ₹7,920 in 3 years at compound interest. What is the original principal?
- A.
₹4,000.33
- B.
₹5,583.33
- C.
₹4,583.33
- D.
₹6,583.33
Attempted by 1 students.
Show answer & explanation
Correct answer: C
1. Principal * r = 7920/6600 = 1.2.
2. P * (1.2)^2 = 6600 => P * 1.44 = 6600 => P = 4,583.33.