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. |
|
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| = 3972. |
Discussion:
94 comments Page 10 of 10.
Josephlecocq said:
1 decade ago
Is -1 the same as p?
Satya said:
1 decade ago
60% is equal to 60/100 i.e., S.I means adding same rate of interest every year, So here we knew that 60% is increased in 6 years, i.e., Every year it is increased by 10%.
So that 10% * 6 years= 60% for 6 years. So that rate of interest = 10%.
So that 10% * 6 years= 60% for 6 years. So that rate of interest = 10%.
Satya said:
1 decade ago
@Nivedita.
Don't bother about 'P'. Think logically about r% using given data.
Don't bother about 'P'. Think logically about r% using given data.
Nivedita said:
1 decade ago
How you have taken P as 100 ?
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