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A sum amounts to ₹6,050 at 10% p.a. compound interest in 2 years. Find the principal.
A₹5,000
B₹5,500
C₹4,500
D₹6,000
Answer & Solution
Correct answer: A. ₹5,000
1. A = P(1.10)² = 1.21 P.
2. 1.21 P = 6050.
3. P = 6050 / 1.21 = ₹5,000.
_Source: jkchrome SI-CI QB, p.2 — back-calculate principal_
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