Q.

Find the sum which will amount to Rs 700 in 5 years at 8% P.A.


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a

₹600

b

₹500

c

₹300

d

₹100 

answer is B.

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Detailed Solution

Let the sum be ₹P.
Amount = SI + P
700 = P×8×5100+P
700=2P5+P=7P5
P=500
 
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