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.
Lokesh said:
6 years ago
Verify with given option.
CI =7 %
1ST YEAR 7%.
For 2nd year, it becomes 7.49
Total 14.49
If 100% = 30K.
Then 114.49 = ?
(114.49 * 30K)÷100.
And you will get 4347.
CI =7 %
1ST YEAR 7%.
For 2nd year, it becomes 7.49
Total 14.49
If 100% = 30K.
Then 114.49 = ?
(114.49 * 30K)÷100.
And you will get 4347.
(1)
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.
Anurag Nath said:
9 years ago
@Hitendra.
(107/100)n = 11449/10000.
=> 107 * 107/100 * 100 = 11449/10000.
=> (107/100)2 = 11449/10000 [Here n = 2].
Therefore n=2.
(107/100)n = 11449/10000.
=> 107 * 107/100 * 100 = 11449/10000.
=> (107/100)2 = 11449/10000 [Here n = 2].
Therefore n=2.
Migma Tshering Tamang said:
5 years ago
34347=30000(1+0.07)^n.
1.1449=(1.07)^n.
Using log in both the side.
log1.1449=n * log1.07.
n=log1.1449/log1.07.
n=2 years.
1.1449=(1.07)^n.
Using log in both the side.
log1.1449=n * log1.07.
n=log1.1449/log1.07.
n=2 years.
(8)
Anshu said:
1 decade ago
30000*7/100 = 2100 - year 1.
30000+2100 = 32100*7/100 = 2247 - year 2.
Now add 2100+2247 = 4347 which is 2 years.
30000+2100 = 32100*7/100 = 2247 - year 2.
Now add 2100+2247 = 4347 which is 2 years.
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)
Abhilok said:
10 years ago
2 times in 10 years.
2^3 = 8 times in 3*10 = 30 years.
Let power = n.
Given year = y.
n*y is the answer.
2^3 = 8 times in 3*10 = 30 years.
Let power = n.
Given year = y.
n*y is the answer.
(1)
Bhabani said:
10 years ago
A sum becomes double in ten years in C.I. So in how many years the principal would be 8 times?
Nitish said:
3 years ago
No @Garima.
You should write it as 107/100 which came by the basic addition method.
You should write it as 107/100 which came by the basic addition method.
(3)
B. Tatung said:
8 years ago
How come 3 divided by both numerator and denominator?
Please, someone, explain me.
Please, someone, explain me.
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