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The compound interest earned on a sum in 3 years at 20% per annum compounded annually is Rs. 6800. What is the sum ?


A) Rs. 9340.7

B) Rs. 7430.7

C) Rs. 9240.7

D) Rs. 9420.7

Correct Answer:
A) Rs. 9340.7

Description for Correct answer:
Principal = Rs.P
\( \Large \therefore \) C.I. = P \( \Large [ ( 1 + \frac{R}{100} ) ^ {T} - 1 ] \)
=> 6800 = P \( \Large [ ( 1 + \frac{20}{100} ) ^ {3} - 1 ] \)
=> 6800 = P \( \Large [ ( 1 + \frac{1}{5} ) ^ {3} - 1 ] \)
=> 6800 = P \( \Large [ ( \frac{6}{5} ) ^ {3} - 1 ] \)
=> 6800 = P \( \Large ( \frac{216}{125} - 1 ) \)
=> 6800 = P \( \Large ( \frac{216-125}{125} ) \)
=> 6800 = \( \Large \frac{ P \times 91}{125} \)
=> P = \( \Large \frac{6800 \times 125}{91} \)
= Rs.9340.7

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




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