Aptitude - Compound Interest - Discussion
Discussion Forum : Compound Interest - General Questions (Q.No. 2)
2.
The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:
Answer: Option
Explanation:
Let the sum be Rs. x. Then,
| C.I. = |  |
x |  |
1 + | 4 |  |
2 | - x |  |
= | |
676 | x | - x | |
= | 51 | x. |
| 100 | 625 | 625 |
| S.I. = | |
x x 4 x 2 | |
= | 2x | . |
| 100 | 25 |
 |
51x | - | 2x | = 1 |
| 625 | 25 |
x = 625.
Discussion:
149 comments Page 9 of 15.
Jyoti said:
9 years ago
P = D * 100^2/R^2 = 1*100^2/16 = 625.
Ramesh said:
9 years ago
P = D[100/r] * 2.
P = 1[100 * 100/4 * 4].
P = 625.
P = 1[100 * 100/4 * 4].
P = 625.
Rishi said:
9 years ago
I guess X must be the principal but not the sum.
GAGAN said:
9 years ago
If the compound interest is 104 and simple interest is 100 for the time of 2 years find the rate of interest.
Can anyone solve this problem.
Can anyone solve this problem.
Raj said:
9 years ago
Why not R/2?
Chinmoy Mondal said:
9 years ago
Very simple formula is;
p.(R/100)^2 = (compound interest - Simple interest) time duration 2 years.
p.(R/100)^2 = (compound interest - Simple interest) time duration 2 years.
Yeshwanth said:
9 years ago
@Gagan
SI = P * (n * r)/100.
CI = P((1 + r/100)^n - 1).
Now simplify both equations such that P comes to the left and rest to the right equate both to get r.
SI = P * (n * r)/100.
CI = P((1 + r/100)^n - 1).
Now simplify both equations such that P comes to the left and rest to the right equate both to get r.
Prasanna Karthik said:
9 years ago
We can use the direct formula for this one.
The difference after 2 years = PR^2/100^2.
Here, P - Principal, R - Interest of Rate.
The difference after 2 years = PR^2/100^2.
Here, P - Principal, R - Interest of Rate.
Mamta Srivastava said:
9 years ago
How we derive the shortcut trick for 2 or 3 years for the sum of money if the difference given b/w CI and SI? Anyone help me to clear these shortcut to improve myself. Please.
Ankit said:
9 years ago
CI for 2 years - SI for 2 years = PR^2/100^2.
1 = P16/10000,
10000/16 = P,
P = 625.
1 = P16/10000,
10000/16 = P,
P = 625.
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