A sum of ₹x amounts to ₹11979 in 2 years at 15% p.a. when the interest is compounded eight-monthly. The value of x is:

₹8700 ₹9000 ₹9250 ₹9800

₹9000

Rate = 15% p.a ⇒ 10% per 8 monthly 2 years = 24 months = 3 × 8 months 10% = 1/10 Now, ATQ, 1331R → 11979 1R → 9 Principal = 1000R = Rs.9000