The compound interest on a certain sum of money for 2 year at the rate of 5% p.a. is Rs. 328. Find double of principal.
Answer & explanation
Correct answer: option 3
5% = \(\frac{1}{20}\)
Therefore, Let principal is 400 (square of 20)
Total C. I. = 41
ATQ,
41 R = 328 ⇒ 1R = 8
400 R = 400 × 8 = 3200
Double of principal = 3200 × 2 = Rs.6400