Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

If the compound interest on a certain sum for 3 years at the rate of 14\(\frac{2}{7}\)% per annum is Rs.101.40. Find the principal?

Options:

Rs. 245.80

Rs. 205.80

Rs. 307.20

Rs. 336.80

Correct Answer:

Rs. 205.80

Explanation:

14\(\frac{2}{7}\)% = \(\frac{1}{7}\)

⇒ C.I. of 3 years = (49 × 3) + (7 × 3) + 1 = 169

⇒ ATQ, 169R = 101.4

⇒ 1R = 0.6

⇒ Principal = 343 × 0.6 = Rs.205.80