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.
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)
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.
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)
NARENDRA said:
1 decade ago
SIMPLE FORMULA FOR TWO YEARS
C.I.-S.I.=P(R/100)*(R/100)
96=15000(R/100)(R/100)
R*R=960/15=64
R=8
C.I.-S.I.=P(R/100)*(R/100)
96=15000(R/100)(R/100)
R*R=960/15=64
R=8
Ravin said:
1 decade ago
Kindly explain in 3rd step howcum -1 would be showing...is this problem solve throuGh the LCM?
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)
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.
Pratima said:
1 decade ago
Can any one provide shortcut for difference (CI-SI) questions for more than two years?
PRAWIN said:
1 decade ago
shortcut:
p = d (100/r)^2
15000 = 96*100*100/r^2
r^2 = 96*100*100/15000
r = 8.
p = d (100/r)^2
15000 = 96*100*100/r^2
r^2 = 96*100*100/15000
r = 8.
Manish said:
1 decade ago
Apply below simple formula and get the answer easily.
Difference = P(R)^2/(100)^2.
Difference = P(R)^2/(100)^2.
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