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What is the principal amount which earns Rs.1320 as compound interest for the second year at 10 % per annum ?

A) Rs.1000
B) Rs.12000
C) Rs.13200
D) Rs.11880

Correct Answer:


B) Rs.12000

Description for Correct answer:

Let principal at the end of first year be Rs.x.

Then, \( \Large \frac{x \times 10 \times 1}{100} = 1320 \)

= x = 13200

Let original principal be Rs.P. Then

amount after 1 year = \( \Large P + \frac{P \times 10 \times 1}{100} = \frac{11P}{10}\)

Therefore, \( \Large \frac{11P}{10} = \) 13200

P = \( \Large \frac{13200 \times 10}{11} \) = Rs.12000.

Part of solved Simple and compound interest questions and answers : >> Aptitude >> Simple and compound interest

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Similar Questions

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