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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|
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| = 3972. |
Discussion:
94 comments Page 6 of 10.
Malinimadhavan said:
9 years ago
@Angad.
Formula to find the rate of interest from ci is r= n[(A/P)^1/nt -1].
Now take p=12000; amount (A) = C.I + PRINCIPLE (3972+12000) = 15972; time(t) = 3years n=1.
By substituting this values in the above equation.
r = 1[(15972/12000)^1/3 -1],
= [(1.331)^1/3 -1],
r = [1.1-1],
r = 0.1.
To calculate rate of interest in percentage we use R = r*100.
Therefore R = 0.1*100 = 10%.
Thus rate of interest is 10% p.a.
I hope it will help you.
Formula to find the rate of interest from ci is r= n[(A/P)^1/nt -1].
Now take p=12000; amount (A) = C.I + PRINCIPLE (3972+12000) = 15972; time(t) = 3years n=1.
By substituting this values in the above equation.
r = 1[(15972/12000)^1/3 -1],
= [(1.331)^1/3 -1],
r = [1.1-1],
r = 0.1.
To calculate rate of interest in percentage we use R = r*100.
Therefore R = 0.1*100 = 10%.
Thus rate of interest is 10% p.a.
I hope it will help you.
Victor said:
9 years ago
Please help me to solve this question.
Formula:
Fp=Pp(1+r) raise to power n.
if Pp=100, r=3%,n = 10.
Formula:
Fp=Pp(1+r) raise to power n.
if Pp=100, r=3%,n = 10.
Sammy said:
9 years ago
Thank you so much for explaining the solution.
Sanjay said:
8 years ago
60% is equal to 60/100 i.e., S.I means adding the 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%.
Then, caculate net % for 3yrs.
i.e.
Calculte 1st (10%)and 2nd yr(10%).then result with 3rd yr(10%).
i.e 10+10+(10 * 10)/100 = 21.
Next 21+10+(21 * 10)/100 = 33.1%.
So now just calculate 33.1%12000.
i.e 3972.
Then, caculate net % for 3yrs.
i.e.
Calculte 1st (10%)and 2nd yr(10%).then result with 3rd yr(10%).
i.e 10+10+(10 * 10)/100 = 21.
Next 21+10+(21 * 10)/100 = 33.1%.
So now just calculate 33.1%12000.
i.e 3972.
Sudarsan said:
8 years ago
Thanks @Neha.
Manisha said:
8 years ago
Thanks @Sanjay.
Dron said:
8 years ago
How to find p=100?
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)
Riya said:
8 years ago
helpful
Mohammad Gazali said:
8 years ago
Please tell me how R=100*60/100*6?
(1)
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