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.
Usha said:
1 decade ago
C.I will be the 4347.
C.I = AMOUNT-PRINCIPAL.
PRINCIPAL = 30,000.
4347 = AMOUNT-30000.
AMOUNT = 4347+30000 = 34347.
AMOUNT = P(1+R/100)^n.
34347 = 30000(1+7/100)^n.
34347/30000 = (107/100)^n.
C.I = AMOUNT-PRINCIPAL.
PRINCIPAL = 30,000.
4347 = AMOUNT-30000.
AMOUNT = 4347+30000 = 34347.
AMOUNT = P(1+R/100)^n.
34347 = 30000(1+7/100)^n.
34347/30000 = (107/100)^n.
Sumit P. said:
1 decade ago
Sorry Guys but it should;
11449 / 10000 // 34347 / 30000 is multiplied and divide by 3.
Hence, Now 11449 and 10000 are squares of 107 and 100 resp.
Thus(107 / 100)^ 2. Thus n = 2.
11449 / 10000 // 34347 / 30000 is multiplied and divide by 3.
Hence, Now 11449 and 10000 are squares of 107 and 100 resp.
Thus(107 / 100)^ 2. Thus n = 2.
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.
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.
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.
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?
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