Aptitude - Compound Interest - Discussion
Discussion Forum : Compound Interest - General Questions (Q.No. 7)
7.
At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
Answer: Option
Explanation:
Let the rate be R% p.a.
| Then, 1200 x |  |
1 + | R |  |
2 | = 1348.32 |
| 100 |
 |
|
1 + | R | |
2 | = | 134832 | = | 11236 |
| 100 | 120000 | 10000 |
 |
|
1 + | R | |
2 | = | |
106 | |
2 |
| 100 | 100 |
| 1 + |
R | = | 106 |
| 100 | 100 |
R = 6%
Discussion:
41 comments Page 3 of 5.
Suraj said:
7 years ago
What is the answer, if 9 months is given here instead of 2 years?
Harika said:
1 decade ago
To find cp=p(1+R/100)^n-p but only amount is taken
Shikhar shukla said:
1 decade ago
After the last step how 6% comes please explain?
Jasika said:
1 decade ago
1348.32 is CI, but here they have taken. Directly at the place of amount. ?
Vinoth said:
1 decade ago
Divide numerator and denominater by 100 to take out point. Tahts why 1200 as 120000.
Pawan said:
1 decade ago
Shakti borrows an amount of Rs 28000 for 2 years from a bank at a subsidised rate. At the end of 2 years he pays a sum of Rs 30870. How much was the rate of interest? What is the amount that should be paid if Shakti pays it after 3 years?
Solve it please?
Solve it please?
G NARESH said:
1 decade ago
How you got 11236/10000?
Pinky said:
1 decade ago
By dividing numerator and denominator by 12 we got 11236/10000.
Praveen said:
1 decade ago
Let subtract sum from total amount 1348.32 - 1200 is 148.32.
148.32 is two years interest amt (profit) we get. Ten one year interest amount is 148.30/2 = 74 per annum.
Lets find the 74 amount interest rate of 1200 >>> 10% is 120 and then 6% is 74 Rs that all. 6% is right answer. Hope you understand this.
148.32 is two years interest amt (profit) we get. Ten one year interest amount is 148.30/2 = 74 per annum.
Lets find the 74 amount interest rate of 1200 >>> 10% is 120 and then 6% is 74 Rs that all. 6% is right answer. Hope you understand this.
Rosy said:
1 decade ago
1348.32 = 1200(1+R/100)^2.
1.1236 = (1+R/100)^2.
(1.1236)^(1/2) = (1+R/100).
Since, divided half both sides,
1.06 = (1+R/100).
r = 6%.
1.1236 = (1+R/100)^2.
(1.1236)^(1/2) = (1+R/100).
Since, divided half both sides,
1.06 = (1+R/100).
r = 6%.
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