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Q: If the composed interest on a certain sum for 2 years at 12.5% per annum is Rs. 170 then find the sum.
A. Rs. 540 B. Rs. 1360
C. Rs. 640 D. Rs. 620

Answer and Explanation

Answer:Rs. 640

Explanation:
Compound interest = A – P = P (1 + R/100)2 – P
= P[ ( 1 + 12.5/100)2 – 1]
∴ 170 – P[(1.125)2 -1)] = P(1.125 + 1)(1.125 – 1)
∴ P = 170/2.125 × 0.125 = Rs. 640

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