Aptitude - Compound Interest - Discussion
Discussion Forum : Compound Interest - General Questions (Q.No. 3)
3.
There is 60% increase in an amount in 6 years at simple interest. What will be the compound interest of Rs. 12,000 after 3 years at the same rate?
Answer: Option
Explanation:
Let P = Rs. 100. Then, S.I. Rs. 60 and T = 6 years.
 R = |
 |
100 x 60 |  |
= 10% p.a. |
| 100 x 6 |
Now, P = Rs. 12000. T = 3 years and R = 10% p.a.
| C.I. |
|
|||||||||||||
|
||||||||||||||
| = 3972. |
Discussion:
94 comments Page 10 of 10.
ROHIT said:
2 years ago
How did they get 10% as rate while calculating CI? Please explain the answer.
(5)
Shima said:
1 year ago
For 6 years = 60% increase.
i.e for 1 year = 10% pa.
i.e for 1 year = 10% pa.
(21)
Shivani Nikam said:
12 months ago
-1 because they have taken P common.
(15)
AKASH KADAM said:
2 weeks ago
For simple interest, 60% for the 6 years.
So, for one year it is - 10 % p.a.
Now the principle amount is- 12000.
We have to calculate the compound interest for 3 years.
On the 10% per annum rate.
So for the first year it's - 1200.
For the second year it's - 1320.
For the third year, it's - 1452.
Now add all of them - 1200 + 1320 + 1452.
= 3972.
So, for one year it is - 10 % p.a.
Now the principle amount is- 12000.
We have to calculate the compound interest for 3 years.
On the 10% per annum rate.
So for the first year it's - 1200.
For the second year it's - 1320.
For the third year, it's - 1452.
Now add all of them - 1200 + 1320 + 1452.
= 3972.
Post your comments here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers