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 4 of 4.
Priyanka P. said:
1 decade ago
@Anonymous
for C.I. formula is=>
p(1-r/100)^n-p
without subtracting, which amount we get is
"Principle amount+Interest"
so to get C.I. we have to subtract it..
for C.I. formula is=>
p(1-r/100)^n-p
without subtracting, which amount we get is
"Principle amount+Interest"
so to get C.I. we have to subtract it..
Anonymous said:
1 decade ago
In that why -15000 is done in compound interest. As per formula its not there na?
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