RRB NTPC · Question 46
K borrowed Rs. P at a compound interest of 20% p.a. for 2 years. Interest amount payable was Rs. 5,280. What was the value of P?
Show answer & explanation
Answer: (A) 12,000
Explanation
CI = P(1.2² − 1) = 0.44P = 5280, so P = Rs 12,000.