Aptitude - Compound Interest - Discussion
Discussion Forum : Compound Interest - General Questions (Q.No. 9)
9.
Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?
Answer: Option
Explanation:
| Amount |
|
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|
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| = Rs. 8820. |
Discussion:
23 comments Page 3 of 3.
Tamsa said:
6 years ago
A=P(1+R/100)^n.
8000(1+5/100)^2,
80(105)^2.
= 105 * 105 = 11025 * 80 = 882000.
8000(1+5/100)^2,
80(105)^2.
= 105 * 105 = 11025 * 80 = 882000.
(1)
Salman said:
5 years ago
Traditional method:
For 1st year:8000*5/100=rs 400.
For 2nd year:8400*5/100=rs 420.
Total: rs 820.
Total amount= principal amount + interest.
So, 8000+820 = rs8820.
For 1st year:8000*5/100=rs 400.
For 2nd year:8400*5/100=rs 420.
Total: rs 820.
Total amount= principal amount + interest.
So, 8000+820 = rs8820.
(2)
Gurpreet singh said:
4 years ago
5% = 5/100 = 1/20.
20:21(20+1),
20 * 20:21 * 21,
=400:441.
400 * 20:441 * 20,
8000:8820.
8820 => answer.
20:21(20+1),
20 * 20:21 * 21,
=400:441.
400 * 20:441 * 20,
8000:8820.
8820 => answer.
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