CA Foundation Exam > CA Foundation Questions > A = Rs. 5200, R = 5% p.a., T = 6 years, P wil...
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A = Rs. 5200, R = 5% p.a., T = 6 years, P will be
- a)Rs. 2000
- b)Rs. 3880
- c)Rs. 3000
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
A = Rs. 5200, R = 5% p.a., T = 6 years, P will bea)Rs. 2000b)Rs. 3880c...
**Calculation of Compound Interest**
Given:
Principal amount (A) = Rs. 5200
Rate of interest (R) = 5% p.a.
Time (T) = 6 years
Formula for compound interest:
A = P(1 + R/100)^T
To find the principal amount (P), we can rearrange the formula as:
P = A / (1 + R/100)^T
Let's substitute the given values into the formula to find the principal amount (P).
P = 5200 / (1 + 5/100)^6
P = 5200 / (1 + 0.05)^6
P = 5200 / (1.05)^6
P = 5200 / 1.340096
P = 3880.38
Therefore, the principal amount (P) will be approximately Rs. 3880.
Hence, the correct answer is option B) Rs. 3880.
Given:
Principal amount (A) = Rs. 5200
Rate of interest (R) = 5% p.a.
Time (T) = 6 years
Formula for compound interest:
A = P(1 + R/100)^T
To find the principal amount (P), we can rearrange the formula as:
P = A / (1 + R/100)^T
Let's substitute the given values into the formula to find the principal amount (P).
P = 5200 / (1 + 5/100)^6
P = 5200 / (1 + 0.05)^6
P = 5200 / (1.05)^6
P = 5200 / 1.340096
P = 3880.38
Therefore, the principal amount (P) will be approximately Rs. 3880.
Hence, the correct answer is option B) Rs. 3880.
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A = Rs. 5200, R = 5% p.a., T = 6 years, P will bea)Rs. 2000b)Rs. 3880c)Rs. 3000d)None of theseCorrect answer is option 'B'. Can you explain this answer?
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