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.
Anonymous said:
1 decade ago
In that why -15000 is done in compound interest. As per formula its not there na?
Shine said:
8 years ago
C.I - S.I (FOR 2 YEARS)= P (R/100)^2.
HENCE,
96 = 15000(R/100)^2.
Solve for R.
HENCE,
96 = 15000(R/100)^2.
Solve for R.
(1)
Ravi said:
9 years ago
For the difference between CI and SI for 2 years formula is p = d * (100/r)^2.
Siddu said:
5 years ago
P = si-ci/(r/100) 2 use this formula to get the answer.
Swap said:
1 decade ago
Please tell something more about compound interest.
Arshdeep said:
1 decade ago
Simply use formula difference=p*r*r/100*100.
Bhaumik said:
9 years ago
@Muthu.
You explained beautifully, Thanks.
You explained beautifully, Thanks.
Rahul said:
8 years ago
What will be solution, if time is 3years?
Anisa said:
7 years ago
Here 100^3*(CI-SI)/R^2(R+300).
Muniyasoda said:
1 decade ago
Explain more than two years?
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