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Abhishek Srivastava

· started a discussion

· 1 Months ago

Ambiguity in rate of interest (Question: 108568.0 )

Its nowhere mentioned that rate of interest is annual.
According to you, x+x+(x*x/100 )=12

Question:

If a sum is compounded half yearly at the rate of 12% p.a. and the difference of compound interest and simple interest for 1 year is Rs.36, then what is the sum?

Options:
A) Rs.10,000
B) Rs.12,000
C) Rs.15,000
D) Rs.9,000
Solution:
Ans: (a)

Let Principal be \(\unicode{x20B9} \)P. 

\(\therefore\) Simple interest on \(\unicode{x20B9} \)P for one year at the rate of 12% 

= \(\cfrac{P\times1\times12}{100}=\unicode{x20B9}\cfrac{12P}{100} \)

Compound interest 


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