Aptitude - Compound Interest - Discussion
Discussion Forum : Compound Interest - General Questions (Q.No. 5)
5.
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
Answer: Option
Explanation:
Amount = Rs. (30000 + 4347) = Rs. 34347.
Let the time be n years.
| Then, 30000 |  |
1 + | 7 |  |
n | = 34347 |
| 100 |
 |
|
107 | |
n | = | 34347 | = | 11449 | = | |
107 | |
2 |
| 100 | 30000 | 10000 | 100 |
n = 2 years.
Discussion:
46 comments Page 2 of 5.
Sangavi said:
7 years ago
Why we add 30000 and 4347, can anyone please explain it?
Prasad said:
7 years ago
Why we square that 107/100 n=2? why? please.
(1)
Narsim Bari said:
7 years ago
30000*7/100 = 2100 for 1rst year.
For 2nd year : 30000+2100*7/100 = 2247.
Now, cross-check the given calculated amount given in the question itself i.e 4347 rupees by adding 2 years amount (2100+2247)=4347.
Believe this is the fastest and tricky method of our natural mind.
For 2nd year : 30000+2100*7/100 = 2247.
Now, cross-check the given calculated amount given in the question itself i.e 4347 rupees by adding 2 years amount (2100+2247)=4347.
Believe this is the fastest and tricky method of our natural mind.
(7)
Subramanyam said:
8 years ago
Thanks, friends. It helped a lot!
Shipra said:
8 years ago
Thanks people. It helped a lot!
Priya said:
8 years ago
What is 107/100? I can't understand, please explain.
(1)
Akash Kumar Sinha said:
8 years ago
1st year CI= 7% OF 30000 ie 2100.
2nd year CI=2100+ 7% of 2100 ie 147.
2100+2100+147=4347.
Hence, 2 years.
2nd year CI=2100+ 7% of 2100 ie 147.
2100+2100+147=4347.
Hence, 2 years.
(4)
B. Tatung said:
8 years ago
How come 3 divided by both numerator and denominator?
Please, someone, explain me.
Please, someone, explain me.
Chloe said:
8 years ago
Use the formula
n = [ log(fv/p) ] / [ log (1+i)].
Where
FV = future value.
P = present value.
i = interest ( in dec. place).
n = [ log ( 34,347/30,000) ] / [ log (1+0.07)].
= 2.
n = [ log(fv/p) ] / [ log (1+i)].
Where
FV = future value.
P = present value.
i = interest ( in dec. place).
n = [ log ( 34,347/30,000) ] / [ log (1+0.07)].
= 2.
Rkh said:
9 years ago
What if the power is( 107/100)^4?.
How can we find quad root of a number?
How can we find quad root of a number?
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