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Aptitude - Compound Interest - Discussion

Discussion Forum : Compound Interest - General Questions (Q.No. 6)
Compound Interest
6.
What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?
Rs. 9000.30
Rs. 9720
Rs. 10123.20
Rs. 10483.20
None of these
Answer: Option
Explanation:

Amount
= Rs. 25000 x 1 + 12 3
100
= Rs. 25000 x 28 x 28 x 28
25 25 25
= Rs. 35123.20

C.I. = Rs. (35123.20 - 25000) = Rs. 10123.20

Discussion:
38 comments Page 2 of 4.
Suneesh v said:   10 years ago
A sum of money lent at compound interest amount to Rs. 1210 in two years and to rupees 1464.10 in 4 years find the rate of interest.
Ashish Jadhav said:   8 years ago
It is cross multiplication.

(1+12/100).
= (1*100+12)/100,
= (100+12)/100,
= 112/100,
= 28/25 i.e. divided by 4.
Ashwini said:   1 decade ago
I did not understand 2nd and 3rd step in explanation (28/25) how it come please send me details about this steps.
B M VINUTHA said:   1 decade ago
Dear sir/madam,

Please calculate the compound interest on rs 25000 for first 2 years @15% and @16%for 3rd year.
Famitha said:   1 decade ago
@Sugi.

28/25 is fraction if you directly divide 1+12/100 you will get 1.12.

The cube of 1.12 is 1.404928.
Thanuja said:   1 decade ago
Please send me the short cut method for compound interest calculation specially for more than 2 years.
Dayal said:   1 decade ago
Pl send me the short cut method for compound interest calculation specially for more than 2 years.
Ashish Jadhav said:   8 years ago
(1+12/100) = 1 * 100 + 12/100 = 100 + 12/100 = 112/100 = 28/25.

It is cross multiplication.
Ashok said:   1 decade ago
Firstly simplify the 12/100 it will come 3/25 after that you will get 28/25.
Jhumu chakrabortty said:   10 years ago
Why we are not taking minus 1 in the formula for compound interest?
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