Aptitude - Compound Interest - Discussion
Discussion Forum : Compound Interest - General Questions (Q.No. 1)
1.
A bank offers 5% compound interest calculated on half-yearly basis. A customer deposits Rs. 1600 each on 1st January and 1st July of a year. At the end of the year, the amount he would have gained by way of interest is:
Answer: Option
Explanation:
| Amount |
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| = Rs. 3321. |
C.I. = Rs. (3321 - 3200) = Rs. 121
Discussion:
220 comments Page 4 of 22.
SIPU said:
1 decade ago
YA SUNDER IS CORRECT...
Bala said:
1 decade ago
Its a basic thing. Where did you get 3200 in this problem?
Manju said:
1 decade ago
Hai, where did you get from this value 3200.
Dinesh said:
1 decade ago
Can anyone clear me the first step.
Dinesh guptha said:
1 decade ago
I think customer deposits per year 3200.
So they subtracted 3200 with that final amount it seems.
So they subtracted 3200 with that final amount it seems.
Venkat said:
1 decade ago
venkst:simple customer deposited twice
1600*2=3200
1600*2=3200
Lavanya said:
1 decade ago
I too dint understand d first step
Kumar said:
1 decade ago
I didn't understand someone help me.
Anusha said:
1 decade ago
Customer has deposited twice in a year. Once in the begining i.e on Jan 1st n 2nd time on july 1st i.e after 6 months.
So 1st case n=1(1 yr) & 2nd case n=1/2(half yr).
So you get first and 2nd terms coresponding 2 first and 2nd case.
So 1st case n=1(1 yr) & 2nd case n=1/2(half yr).
So you get first and 2nd terms coresponding 2 first and 2nd case.
Akanksha said:
1 decade ago
@ Anusha: There's nothing. See clearly, 1st january and 1st July are dates of depositions!
And please someone explain why 2nd term is not squared while 1st is?
And please someone explain why 2nd term is not squared while 1st is?
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