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 3 of 4.
Arshdeep said:
1 decade ago
Simply use formula difference=p*r*r/100*100.
Muniyasoda said:
1 decade ago
Explain more than two years?
Pratima said:
1 decade ago
Can any one provide shortcut for difference (CI-SI) questions for more than two years?
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.
Lucky said:
1 decade ago
In 4th step how they done R^2=64 ?
If we solve it there should be R^2-200R=64 and this is a quadratic equation. Can anyone explain me how to solve this equation ?
If we solve it there should be R^2-200R=64 and this is a quadratic equation. Can anyone explain me how to solve this equation ?
Mudasir said:
1 decade ago
It's simply p(r/100)^2
p=1500,r=x,t=2yrs
Thus
15000(x/100)^2 it finally comes out like
x^2=64
x^2=8^2
x=8
Therefore rate=8%
p=1500,r=x,t=2yrs
Thus
15000(x/100)^2 it finally comes out like
x^2=64
x^2=8^2
x=8
Therefore rate=8%
Vimal said:
1 decade ago
Thanks prawin.
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.
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?
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