Arithmetic

Simple & Compound Interest

Medium

If the interest is payable annually, then the principal amount on which the compound interest for 2 years at 5% per annum is ₹ 369, is given by

₹ 3800

₹ 3600

₹ 4000

₹ 4200

✅ Correct Option: 2

Given:

Compound Interest (CI) for 2 years = ₹369
Rate of interest = 5% per annum
Time period = 2 years

For compound interest, the amount after n years is:

$A = P(1 + \frac{r}{100})^n$

Where A is the final amount, P is the principal, r is the rate, and n is the number of years.

Substituting the given values:

$A = P(1 + \frac{5}{100})^2$

$A = P(1.05)^2$

$A = P \times 1.1025$

Compound Interest is the difference between Amount and Principal:

$CI = A - P$

$CI = P(1.1025) - P$

$CI = P(1.1025 - 1)$

$CI = P \times 0.1025$

Substituting CI = ₹369:

$369 = P \times 0.1025$

$P = \frac{369}{0.1025}$

$P = 3600$

Therefore, the principal amount is ₹3600.

The answer is option 2.

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If the interest is payable annually, then the principal amount on which the compound interest for 2 years at 5% per annum is ₹ 369, is given by

Solution

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