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Asked in PPSC, FPSC and other one-paper exams (compiled from unofficial resources).

Financial MathematicsSimple and Compound Interest

The principal that will amount to Rs. $270.40$ in $2$ years at the rate of $4\%$ per annum compound interest is:

A.Rs. $240$
B.Rs. $250$Correct answer
C.Rs. $260$
D.Rs. $255$

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Quick fact: The required principal is Rs. $250$.

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