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.
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%.
Mounica said:
1 decade ago
Can any one explain this?
1348.32 is CI, but here they have taken directly at the place of amount?
1348.32 is CI, but here they have taken directly at the place of amount?
Vaibhav patil jadhv said:
1 decade ago
@Mounika.
They didn't said 1348.32 is the compound interest they asked at what rate of the compound interest per annum the sum becomes 1348.32 from 1200 i.e 1348.32 can be equated to amount.
C.I = amount-sum.
Amount=sum(1+r/100)^t as the interest is compounded yearly.
Good luck.
They didn't said 1348.32 is the compound interest they asked at what rate of the compound interest per annum the sum becomes 1348.32 from 1200 i.e 1348.32 can be equated to amount.
C.I = amount-sum.
Amount=sum(1+r/100)^t as the interest is compounded yearly.
Good luck.
Shikhar shukla said:
1 decade ago
After the last step how 6% comes please explain?
Narayana Rao Gartam said:
1 decade ago
Hai Shikhar,
1+R/100= 106/100.
100+R/100 = 106/100.
100+R= 106 ( 100 AND 100 CANCELLED EACH OTHER).
S0, R= 106-100.
i.e: 6.
I'm sure this would help you.
1+R/100= 106/100.
100+R/100 = 106/100.
100+R= 106 ( 100 AND 100 CANCELLED EACH OTHER).
S0, R= 106-100.
i.e: 6.
I'm sure this would help you.
Madhu said:
1 decade ago
How to find the root of 11236?
Saumitr K said:
9 years ago
Can any one explain me how to solve it by percentage change?
I am getting 6.3.
I am getting 6.3.
TKB said:
1 decade ago
Can't we just apply the formula P = R/T using 1200 as the principal amount?
Linka said:
9 years ago
How to find the root of 11236 in an easyway? Anyone help me out.
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