On what sum will compound interest (In ₹) for 2 frac{1}{2} years at 10 % amount to ₹ 6352.50 ?

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6.Interest

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On what sum will the compound interest (In ₹) for $2 \frac{1}{2}$ years at $10 \%$ amount to ₹ $6352.50 ?$

A

$7000$

B

$8000$

C

$5000$

D

None of these

Solution

(c) We have, $6352.50=P\left(1+\frac{10}{100}\right)^{2}\left(1+\frac{\frac{1}{2} \times 10}{100}\right)$

$=P\left(\frac{11}{10}\right)^{2}\left(\frac{21}{20}\right)$

$\Rightarrow P=\frac{6352.50 \times 10 \times 10 \times 20}{11 \times 11 \times 21}=₹ 5000$

Standard 13

Quantitative Aptitude

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