​ On a certain amount at 12 (1/2)% rate for 1 years it becomes ₹ 2437.50 then the amount is ……………….. ​

Question

On a certain amount at 12\(\frac{1}{2}\) % rate for 1 years it becomes ₹ 2437.50 then the amount is ……………….. 

A) ₹ 1225 

B) ₹ 1025

C) ₹ 2166.66 

D) ₹ 1175

Answer 1

Correct option is (C) ₹ 2166.66

Let the amount be P.

R = \(12\frac{1}{2}\%=\frac{25}{2}\%\)

T = 1 year

Amount after 1 year \(=P(1+\frac R{100})^1\)

\(\Rightarrow\) \(P(1+\frac R{100})\) = 2437.50   (Given)

\(\Rightarrow\) \(P(1+\frac{25}{200})\) = 2437.50

\(\Rightarrow\) \(P(1+\frac18)\) = 2437.50

\(\Rightarrow\) \(\frac{9P}8\) = 2437.50

\(\Rightarrow\) P = 2437.50 \(\times\frac89=\frac{19500}9\) = 2166.66

\(\therefore\) Amount is Rs 2166.66

Answer 2

Correct option is  C) ₹ 2166.66