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 5 of 5.
Srivardhani said:
4 weeks ago
1200:
For 1st year: 6% of 1200 = 72 => 1200 + 72 = 1272.
2nd year : 6% of 1272 = 76.32 => 1272 + 76.32 = 1348.32.
For 1st year: 6% of 1200 = 72 => 1200 + 72 = 1272.
2nd year : 6% of 1272 = 76.32 => 1272 + 76.32 = 1348.32.
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