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 8 of 10.
Rohani said:
1 decade ago
Why we take S.I as 60 and what is the difference between S.I and C.I?
Hari said:
1 decade ago
How to find p=100?
Aparna said:
1 decade ago
How could it come 331/1000? Shall anyone explain me please?
Sandeep said:
1 decade ago
Please explain How (1+10/100)^3 is calculated?
ANGITA said:
1 decade ago
How SI was 60?
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%.
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.
Riya said:
8 years ago
helpful
Bhoomika said:
1 decade ago
What is -1 ?
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