Aptitude - Compound Interest - Discussion
Discussion Forum : Compound Interest - General Questions (Q.No. 14)
14.
The difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96. What is the rate of interest per annum?
Answer: Option
Explanation:
 |
15000 x |  |
1 + | R |  |
2 | - 15000 |  |
- | |
15000 x R x 2 | |
= 96 | |
| 100 | 100 |
 15000 |
|
|
1 + | R | |
2 | - 1 - | 2R | |
= 96 |
| 100 | 100 |
| 15000 |
 |
(100 + R)2 - 10000 - (200 x R) |  |
= 96 |
| 10000 |
| R2 = |
|
96 x 2 | |
= 64 |
| 3 |
R = 8.
Rate = 8%.
Discussion:
32 comments Page 1 of 4.
Diwagar said:
2 years ago
Difference between S.I and C. I is;
D = P(R/100) ^2,
96 =15000(R/100) ^2,
(96 * 2)/3 =R^2,
64 = R^2,
Ans. R = 8.
D = P(R/100) ^2,
96 =15000(R/100) ^2,
(96 * 2)/3 =R^2,
64 = R^2,
Ans. R = 8.
(4)
Ash said:
4 years ago
Hi guys,
I will tell you the simplest method for the difference between Si and Ci sums.
Use the formula:
Difference = P*(R^2)/100^2.
I will tell you the simplest method for the difference between Si and Ci sums.
Use the formula:
Difference = P*(R^2)/100^2.
(5)
Naveen said:
4 years ago
CI-SI = P(R/100)^2.
CI-SI = 96.
P = 15000.
96 = 15000(R/100)^2,
96/15000 = R^2/100^2,
0.0064 = R^2/10000,
64 = R^2,
R = 8.
CI-SI = 96.
P = 15000.
96 = 15000(R/100)^2,
96/15000 = R^2/100^2,
0.0064 = R^2/10000,
64 = R^2,
R = 8.
(7)
Khyati mehta said:
4 years ago
We can directly do this by using the formula.
Difference between SI and CI for 2 years = principle *(Rate of Interest)^2
= P(R%)^2.
So here the difference is 96, principle=15000.
96 = 15000*(R/100)^2.
r = 8%.
Difference between SI and CI for 2 years = principle *(Rate of Interest)^2
= P(R%)^2.
So here the difference is 96, principle=15000.
96 = 15000*(R/100)^2.
r = 8%.
(1)
Siddu said:
5 years ago
P = si-ci/(r/100) 2 use this formula to get the answer.
Tamalika Roy said:
5 years ago
@All.
The solution is;
Difference = sum(R/100)^n => formula.
Here;
96 = 15000(r/100)^2 = 8.
The solution is;
Difference = sum(R/100)^n => formula.
Here;
96 = 15000(r/100)^2 = 8.
(1)
Himani said:
6 years ago
Simply:
sum = difference * (100/R)^2 for 2 year.
sum = {difference * (100^3)}/{R^2*(300+R)} for 3 year.
sum = difference * (100/R)^2 for 2 year.
sum = {difference * (100^3)}/{R^2*(300+R)} for 3 year.
(1)
Wrick said:
7 years ago
Simply, the solution is;
15000 * [{1+(r/100)}^2-1]-(15000 * 2 * r)/100 = 96,
=> 15000[{1+(r/100)}^2-1-(2 * r)/100]= 96,
=> 15000[1+(r^2)/10000-1] = 96 where [(a+b)^2-2ab = a^2 + b^2],
=> 15000[r^2/10000] = 96,
=> r^2 = 64,
=> r = 8.
15000 * [{1+(r/100)}^2-1]-(15000 * 2 * r)/100 = 96,
=> 15000[{1+(r/100)}^2-1-(2 * r)/100]= 96,
=> 15000[1+(r^2)/10000-1] = 96 where [(a+b)^2-2ab = a^2 + b^2],
=> 15000[r^2/10000] = 96,
=> r^2 = 64,
=> r = 8.
(2)
Upasana said:
7 years ago
Can the difference be added to the principal to get the amount for compound interest formula?
And then by using CI formula rate can be calculated.
And then by using CI formula rate can be calculated.
Anisa said:
7 years ago
Here 100^3*(CI-SI)/R^2(R+300).
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