Practicing Success
A certain sum invested on compound interest at 10% per annum compounded annually amounts to ₹19404 in 18 months. What was the sum invested (in ₹) ? |
16880 16080 16008 16800 |
16800 |
Amount = Principal × ( 1 + \(\frac{r}{100}\))n So, Amount after 18 months = Principal + CI = 100 + 10 + 5.5 = 115.5 According to question, 115.5R = 19404 1R = 168 So, 100R = 16800 Principal is = 16800 The correct answer is option (4) : 16800 |