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.
Hafsa ali said:
1 decade ago
Why we add 30,000 and 4347?
Arpita Dey said:
1 decade ago
How (107/100)^t = 34347/30000.
t=2?
I forgot the conversion.
t=2?
I forgot the conversion.
Manasa said:
1 decade ago
What is the shortcut method for calculating the square root of 11449?
Fizna said:
1 decade ago
Can anyone say the exact formula for finding the period?
Hitendra said:
1 decade ago
How to calculate (107/100)^t = 34347/30000?
Rajnish said:
1 decade ago
Hi guys,
I think (107/100)^t is not easy to find without using calculator.
So, I want advice you play hit and trial. Take t = 1, t = 2, ..... and match your option.
I think (107/100)^t is not easy to find without using calculator.
So, I want advice you play hit and trial. Take t = 1, t = 2, ..... and match your option.
TEJAS said:
1 decade ago
Why 34347/30000?
Digvijay said:
1 decade ago
Ya! it's not easy to find out. We have to try with value of t.
Isha sharma said:
1 decade ago
Guys this is simple divide numerator and denominator by 3 you will get your answer.
Trilok said:
10 years ago
11449/10000 = (107/100)^n , 1.1442 = (1.07)^n.
We can write as log 1.1442 = n log 1.07, n = log 1.1442/log 1.07 = 0.058501/0.029383 = 2 (as per scientific calculator).
We can write as log 1.1442 = n log 1.07, n = log 1.1442/log 1.07 = 0.058501/0.029383 = 2 (as per scientific calculator).
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