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A sum amounts to Rs. 1352 in 2 years at 4% compound interest.The sum is?

Rs. 1300
Rs. 1250
Rs. 1260
Rs. 1200

Correct Answer: Rs. 1250

Explanation:

Let the sum be P.
Then, 1352 = P(1 +4/100)²
⇒ 1352 = P x 26/25 x 26/25
⇒ P = (1352 x 25 x 25) / (26 x 26) = 1250
∴ Principal = Rs. 1250

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