# Aptitude - Compound Interest - Discussion

Discussion Forum : Compound Interest - Data Sufficiency 1 (Q.No. 3)

*Directions to Solve*

Each of the questions given below consists of a statement and / or a question and two statements numbered I and II given below it. You have to decide whether the data provided in the statement(s) is / are sufficient to answer the given question. Read the both statements and

- Give answer (A) if the data in Statement I alone are sufficient to answer the question, while the data in Statement II alone are not sufficient to answer the question.
- Give answer (B) if the data in Statement II alone are sufficient to answer the question, while the data in Statement I alone are not sufficient to answer the question.
- Give answer (C) if the data either in Statement I or in Statement II alone are sufficient to answer the question.
- Give answer (D) if the data even in both Statements I and II together are not sufficient to answer the question.
- Give answer(E) if the data in both Statements I and II together are necessary to answer the question.

3.

An amount of money was lent for 3 years. What will be the difference between the simple and the compound interest earned on it at the same rate? | |

I. | The rate of interest was 8 p.c.p.a. |

II. | The total amount of simple interest was Rs. 1200. |

Answer: Option

Explanation:

Given: T = 3 years.

** I.** gives: R = 8% p.a.

**II.** gives: S.I. = Rs. 1200.

Thus, P = Rs. 5000, R = 8% p.a. and T = 3 years.

Difference between C.I. and S.I. may be obtained.

So, the correct answer is (E).

Discussion:

6 comments Page 1 of 1.
Sid said:
2 years ago

Simple interest is given = 1200,

So, P=(1200*1000)/8*3 = 5000,

Then we calculate Compound Interest;

CI = 6298.5.

And the difference is 1298.5.

So, P=(1200*1000)/8*3 = 5000,

Then we calculate Compound Interest;

CI = 6298.5.

And the difference is 1298.5.

Ugyuugu said:
8 years ago

@Anu what's this?

Len said:
1 decade ago

On solving P= (1200*100) / (8*3).

We get P=5000 only.

We get P=5000 only.

Anu said:
1 decade ago

S.I=PxRxT/100

S.Ix100/RxT = P

1200x100

-------- = P

8 x 3

Solving this we get 500.

Why is we getting 5000 :/

S.Ix100/RxT = P

1200x100

-------- = P

8 x 3

Solving this we get 500.

Why is we getting 5000 :/

Deepa said:
1 decade ago

How 5000 came? Any one please explain.

Sandesh said:
1 decade ago

Can some one help me, I have not understand this problem.

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