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 8 of 10.
Hari said:
6 years ago
Why we are calculating for 3 years?
Shri said:
5 years ago
Thanks for explaining @Anmol.
Ronald said:
5 years ago
12000 in 10% is 1200 then,
12000+1200=13200 is 1st year.
And 13200 in 10% so 13200+3200= 16400.
Same next year we get 16400+6400=18040.
Then, 18040-12000=6040.
Why not like this? Anyone explain to me.
12000+1200=13200 is 1st year.
And 13200 in 10% so 13200+3200= 16400.
Same next year we get 16400+6400=18040.
Then, 18040-12000=6040.
Why not like this? Anyone explain to me.
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)
Ramya c said:
5 years ago
Anyone can explain me, why we are calculating for 3 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)
Katherin said:
5 years ago
I'm confused on using -1. Why it is used?
Please anyone explain.
Please anyone explain.
(16)
Pratiksha said:
5 years ago
@Katherin,
Instead of -1 you can take principal amount( in this case -12000/-), you will get the same answer.
Instead of -1 you can take principal amount( in this case -12000/-), you will get the same answer.
(8)
Banshika said:
5 years ago
If the amount is increased by 60%. It should be 160 right?
Then why they took 60 straight to find the answer?
Then why they took 60 straight to find the answer?
Sriram Manikanth said:
5 years ago
60 is interest 100 is the principle.
SI = pnr/100.
Therefor 60 = 100 * 6*r/100,
r = 10%.
SI = pnr/100.
Therefor 60 = 100 * 6*r/100,
r = 10%.
(3)
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