The compound interest earned by Sunil on a certain amount at the end of two years at the rate of 8% p.a. was Rs.2828.80. Find the total amount that Sunil got back at the end of two years in the form of principal plus interest earned.
Options:
A . Rs.18,828.80
B . Rs.19,828.80
C . Rs.18,028.80
D . Rs.17,828.80
E . None of these
Answer: Option B
Let the sum be Rs.P P{ [ 1 + 8/100]2 - 1 } = 2828.80 P(8/100)(2 + 8/100) = 2828.80 [a2 - b2 = (a - b) ( a + b)] P = 2828.80 / (0.08)(2.08) = 1360/0.08 = 17000 Principal + Interest = Rs. 19828.80
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