The compound interest on a sum for 2 years at 5% per annum is ₹328. What is the sum?
A. ₹3280
B. ₹3000
C. ₹3200
D. ₹3400
A. ₹3280
B. ₹3000
C. ₹3200
D. ₹3400
Best answer
Answer: C. ₹3200
Answer: (C) ₹3200
5% for 2 years = 10.25% effective. 10.25% of P = 328, so P = 328 ÷ 0.1025 = ₹3200.
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