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 2 of 4.
Siddu said:
5 years ago
P = si-ci/(r/100) 2 use this formula to get the answer.
Bhaumik said:
9 years ago
@Muthu.
You explained beautifully, Thanks.
You explained beautifully, Thanks.
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).
Rahul said:
8 years ago
What will be solution, if time is 3years?
Somnath said:
8 years ago
@Prawin and @Velavan.
Thank you very much for giving the simple trick for the solution.
Thank you very much for giving the simple trick for the solution.
Ravi said:
9 years ago
For the difference between CI and SI for 2 years formula is p = d * (100/r)^2.
Anonymous said:
1 decade ago
In that why -15000 is done in compound interest. As per formula its not there na?
Anshul said:
9 years ago
Thanks, @A Velavan.
A Velavan said:
10 years ago
Difference between SI and CI when 2 years = p(r/100)^2.
96 = 15000(r/100)^2.
R*r = 32*2.
R^2 = 64.
R = 8.
96 = 15000(r/100)^2.
R*r = 32*2.
R^2 = 64.
R = 8.
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