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Q.

On what sum will the compound interest for 3 years at 5% amount to 1261 

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a

9000 Rs

b

7000 Rs

c

8000 Rs

d

1000 Rs

answer is B.

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Detailed Solution

C.I=P(1+r100)nP

1261=P((1+5100)31)

1261=P×(926180001)=P(12618000)

P=1261×80001261=8000Rs

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