Q6 of 89 Page 14

Rachna borrowed a certain sum at the rate of 15% per annum. If she paid at the end of two years Rs. 1290 as interest compounded annually, find the sum she borrowed.

Given,


Rate = 15% p.a


Time = 2 years


C.I = Rs. 1290


Let principal = P


So,


Compound interest =


= P


=


=


=


Hence,


Principal = Rs. 4000


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