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 9 of 10.
Dron said:
8 years ago
How to find p=100?
Manisha said:
8 years ago
Thanks @Sanjay.
Sudarsan said:
8 years ago
Thanks @Neha.
Sanjay said:
9 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.
Sammy said:
9 years ago
Thank you so much for explaining the solution.
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.
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.
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.
Renu said:
9 years ago
10% successive of 3 years is 33.1%
33.1% of 12000.
= 3972.
33.1% of 12000.
= 3972.
Nivedita said:
1 decade ago
How you have taken P as 100 ?
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