A certain sum amounts to ₹7,200 in 2 years at an annual compound interest rate of 6%, compounded yearly. Find the principal amount (in ₹, rounded to the nearest integer).
A certain sum amounts to ₹7,200 in 2 years at an annual compound interest rate of 6%, compounded yearly. Find the principal amount (in ₹, rounded to the nearest integer).
एक निश्चित राशि 6% वार्षिक चक्रवृद्धि ब्याज की दर से 2 वर्षों में Rs.7,200 हो जाती है, जिस पर ब्याज वार्षिक रुप से चक्रवृद्धि किया जाता हैं। वह राशि (Rs.में, निकटतम पूर्णांक तक) ज्ञात कीजिए ।
Detailed Solution & Logic
Correct Answer:
Rs. 6,408
Given:
Amount $A = 7200$, rate $r = 6%$, time $t = 2$ years
Step 1: Compound interest formula
$A = P(1 + \frac{r}{100})^t$
$7200 = P(1.06)^2$
$7200 = P \times 1.1236$
Step 2: Solve for $P$
$P = \frac{7200}{1.1236}$
$P \approx 6406.6$
Step 3: Round off
$P \approx 6407$
Closest option = 6408
Final Answer: Rs. 6408
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