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.
Rakesh sharma said:
9 years ago
(100 + R) x 1200/100 = 1348.32,
100 + R = 1348.32 x 100/1200,
100 + R = 112.36,
R =12.36 * 6 + 6 + (6x6/100) = 12.36 so ans is 6.
100 + R = 1348.32 x 100/1200,
100 + R = 112.36,
R =12.36 * 6 + 6 + (6x6/100) = 12.36 so ans is 6.
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