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.
Ash said:
4 years ago
Hi guys,
I will tell you the simplest method for the difference between Si and Ci sums.
Use the formula:
Difference = P*(R^2)/100^2.
I will tell you the simplest method for the difference between Si and Ci sums.
Use the formula:
Difference = P*(R^2)/100^2.
(5)
Diwagar said:
2 years ago
Difference between S.I and C. I is;
D = P(R/100) ^2,
96 =15000(R/100) ^2,
(96 * 2)/3 =R^2,
64 = R^2,
Ans. R = 8.
D = P(R/100) ^2,
96 =15000(R/100) ^2,
(96 * 2)/3 =R^2,
64 = R^2,
Ans. R = 8.
(4)
Post your comments here:
Quick links
Quantitative Aptitude
Verbal (English)
Reasoning
Programming
Interview
Placement Papers