Aptitude - Compound Interest - Discussion
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Read more:"Success has many fathers, while failure is an orphan."
- (Proverb)
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The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?
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8 | [B]. |
10 | | [C]. |
12 | [D]. |
Cannot be determined | | [E]. |
None of these |
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Anonymous said:
(Sun, Nov 7, 2010 02:27:46 PM)
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| In that why -15000 is done in compound interest. As per formula its not there na? |
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Priyanka P. said:
(Thu, Dec 2, 2010 08:27:30 AM)
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@Anonymous
for C.I. formula is=>
p(1-r/100)^n-p
without subtracting, which amount we get is
"Principle amount+Interest"
so to get C.I. we have to subtract it.. |
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Swap said:
(Tue, Jan 18, 2011 07:43:37 AM)
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| Please tell something more about compound interest. |
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Ravin said:
(Sun, Feb 6, 2011 10:39:47 AM)
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| Kindly explain in 3rd step howcum -1 would be showing...is this problem solve throuGh the LCM? |
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Narendra said:
(Sat, Aug 6, 2011 09:01:56 PM)
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SIMPLE FORMULA FOR TWO YEARS
C.I.-S.I.=P(R/100)*(R/100)
96=15000(R/100)(R/100)
R*R=960/15=64
R=8 |
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15000
Rate = 8%.