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 3 of 10.
Sai said:
5 years ago
12000 in 10% is 1200.
So 1st year 12000+1200 = 13200.
13200 in 10 % is 1320 so 13200 + 1320 = 14520.
Next 3rd year 14520 in 10% is 1452 so, 14520 + 1452 = 15972.
So, finally 15972 - 12000 = 3972.
So 1st year 12000+1200 = 13200.
13200 in 10 % is 1320 so 13200 + 1320 = 14520.
Next 3rd year 14520 in 10% is 1452 so, 14520 + 1452 = 15972.
So, finally 15972 - 12000 = 3972.
(13)
Vikash said:
9 years ago
After taking common factor p from bracket then automatically -1 come i.e. -1 * p = -p.
If you are confused about -1 then don't take common answer come same but it becomes some complicated.
If you are confused about -1 then don't take common answer come same but it becomes some complicated.
Sarojkumarnaik786@gmail.com said:
1 decade ago
Generally we know the formula of amount not C.I.
Amount = P(1+ R\100)^t.
If we find C.I then we should subtract the principal, then the formula changes to C.I = P((1 + R/100)^t -- 1).
Amount = P(1+ R\100)^t.
If we find C.I then we should subtract the principal, then the formula changes to C.I = P((1 + R/100)^t -- 1).
Steve said:
1 decade ago
You make your calculation too complicated for beginners, it would have been much more easier if you just convert it to decimal and ignore the fraction thing. Good job though.
MONI SHANKAR said:
8 years ago
1200*(11/10)*(11/10)*(11/10)=15972.
CI=15972-12000=3972,
P.S : (HERE 11/10=110/100 WHICH MEANS 10% RATE AND CAME FROM STATEMENT 60% INCREMENT IN 6 YEARS.)
CI=15972-12000=3972,
P.S : (HERE 11/10=110/100 WHICH MEANS 10% RATE AND CAME FROM STATEMENT 60% INCREMENT IN 6 YEARS.)
Taraka said:
5 years ago
A = p+si
P(160/100) = p + (p*6*R).
R = 10%.
Next;
A = p+ci.
A = 12000 * (110/100) ^3
P = 12000.
Then substituting a and p then;
Ci = 3972.
P(160/100) = p + (p*6*R).
R = 10%.
Next;
A = p+ci.
A = 12000 * (110/100) ^3
P = 12000.
Then substituting a and p then;
Ci = 3972.
(2)
Rajata said:
1 decade ago
Its totally wrong hear as compound interest 1200(1+r/1000)n.
As the given formula it should be 12000*1331/1000.
So the answer is..15972.
As the given formula it should be 12000*1331/1000.
So the answer is..15972.
Angad said:
9 years ago
How to find the rate of interest if compound interest and principle and time is already given but the rate is missing? I need the solution.
Shalini said:
1 decade ago
I'm totally confused with these problems.
When compound interest is done by individual formulas the answer shows wrong.
When compound interest is done by individual formulas the answer shows wrong.
Saleem said:
8 years ago
60%increase in 6 yrs.
i. e 10%every yr.
i. e R=10%.
Now A=P(1+10/100)^3=1200(1+1/10)^3=15972.
CI=15972-12000=3972.
i. e 10%every yr.
i. e R=10%.
Now A=P(1+10/100)^3=1200(1+1/10)^3=15972.
CI=15972-12000=3972.
(3)
Post your comments here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers