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Compound interest at 10% p.a. for 2 years = ₹945. Find principal.

1. 3750
2. 5000
3. 4000
4. 4500

Correct answer: 4500

Solution

CI = P[(1+10/100)^2 - 1] = P[1.21-1] = P×0.21. 945 = P×0.21 → P = 945/0.21 = 4500.

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