The certain sum amounts to Rs 9,982.50 in  years at 12% p.a., interest compounded 10-monthly. The sum (in Rs) is:

Options
a) 8500
b) 7800
c) 8000
d) 7500

Solution

As per question
Interest rate per year = 12%
Interest rate to 10 months = = 10%
Time = = 30 months
Time = = 3
A =
9982.50 =
9982.50 =
9982.50 =
P =
P = 7.50 x 1000
p = 7500

Ans: d) 7500