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 4 of 5.
Priya said:
8 years ago
What is 107/100? I can't understand, please explain.
(1)
Shipra said:
8 years ago
Thanks people. It helped a lot!
Subramanyam said:
8 years ago
Thanks, friends. It helped a lot!
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)
Prasad said:
7 years ago
Why we square that 107/100 n=2? why? please.
(1)
Sangavi said:
7 years ago
Why we add 30000 and 4347, can anyone please explain it?
Bimla jarmwal said:
7 years ago
Please, anyone, explain the answer in detail to me.
(1)
Anomie said:
7 years ago
How did come 11449?
(1)
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)
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)
Post your comments here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers