A certain sum of money yields Rs.1261 as compound interest for 3 years at 5% per

Question

A certain sum of money yields Rs.1261 as compound interest for 3 years at 5% per annum. The sum is

Options:

A . Rs.8000

B . Rs.9000

C . Rs.7500

D . Rs.8400

Answer: Option A
Answer: (a)Let the principal be Rs.x. Now,C.I. = P$[(1 + R/100)^T - 1]$1261 = $x[(1 + 5/100)^3 - 1]$1261 = $x(9261/8000 - 1)$1261 = $x({9261 - 8000}/8000)$= ${1261x}/8000$$x = {1261 × 8000}/1261$ = Rs.8000

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