Paper 1 · Mathematical Reasoning and Aptitude
UGC NET June 2024 Re-Exam (02.09.2024) Shift-II
A certain sum of money becomes Rs.28800 in 2 years at 20% per annum compound interest, compounded annually. The sum of money is:
ARs.24000
BRs.22000
CRs.21000
DRs.20000 ✓ Correct
Correct answer: (D) Rs.20000 — The sum is Rs.20000, so that is the answer.
Explanation
★The sum is Rs.20000, so that is the answer.
★The amount equals the principal times 1.2 squared.
★1.2 squared is 1.44.
★So the principal is 28800 divided by 1.44.
★That equals 20000.
★Hence Rs.20000 is correct.
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