# Aptitude - Compound Interest

- Compound Interest - Formulas
- Compound Interest - General Questions
- Compound Interest - Data Sufficiency 1
- Compound Interest - Data Sufficiency 2
- Compound Interest - Data Sufficiency 3.1

*Directions to Solve*

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and

- Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.
- Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.
- Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.
- Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.
- Give answer(E) if the data in both Statements I and II together are necessary to answer the question.

What is the rate of compound interest? | |

I. | The principal was invested for 4 years. |

II. | The earned interest was Rs. 1491. |

Let Principal = Rs. P and Rate = R% p.a. Then,

Amount = Rs. | P | 1 + | R | 4 | ||||

100 |

C.I. = | P | 1 + | R | 4 | - 1 | ||||

100 |

P | 1 + | R | 4 | - 1 | = 1491. | |||||

100 |

Clearly, it does not give the answer.

Correct answer is (D).

What will be compounded amount? | |

I. | Rs. 200 was borrowed for 192 months at 6% compounded annually. |

II. | Rs. 200 was borrowed for 16 years at 6%. |

I. Amount = Rs. |
200 x | 1 + | 6 | 16 | ||||

100 |

II. Amount = Rs. |
200 x | 1 + | 6 | 16 | ||||

100 |

Thus, I as well as II gives the answer.

Correct answer is (C).

An amount of money was lent for 3 years. What will be the difference between the simple and the compound interest earned on it at the same rate? | |

I. | The rate of interest was 8 p.c.p.a. |

II. | The total amount of simple interest was Rs. 1200. |

Given: T = 3 years.

** I.** gives: R = 8% p.a.

**II.** gives: S.I. = Rs. 1200.

Thus, P = Rs. 5000, R = 8% p.a. and T = 3 years.

Difference between C.I. and S.I. may be obtained.

So, the correct answer is (E).