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A sum becomes ₹ 1,352 in 2 years at 4% per annum compound interest. The sum is
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- ₹ 1,225
- ₹ 1,270
- ₹ 1,245
- ₹ 1,250
Correct Option: D
Let the sum be ₹ p.
Here , A = ₹ 1352 , r = 4% , n = 2 years
Using the given formula ,
A = P | 1 + | n | |||
100 |
∴ 1352 = p | 1 + | 2 | |||
100 |
⇒ 1352 = p | 1 + | 2 | |||
25 |
⇒ 1352 = p | 2 | |||
25 |
⇒ p = | = ₹ 1250 | |
26 × 26 |