The compound interest on certain princip

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

The compound interest on certain principal at the rate of 12.5% p.a. compounded annually is Rs. 1296 in 3rd year. Find the principal.

Options:

7680

8430

8292

8192

Correct Answer:

8192

Explanation:

12.5% = \(\frac{1}{8}\)

Now, ATQ

81R = 1296

1R = 16

Principal = 512R = 512 × 16 = Rs.8192