CLEAR
Toprankers-Info

+91 7676564400

Mobile App

Get it on Google Play
Discussions
Select Date
Tags:

Articles

Discussions
Submit Discussion
apj

· started a discussion

· 1 Months ago

doubt (Question: 191691.0 )

is the above formula applicable for all conditions?

Question:

The compound interest on a sum for 2 years is Rs. 832 and the simple interest on the same sum at the same rate for the same period is Rs. 800. What is the rate of interest ?

Options:
A) 6%
B) 8%
C) 10%
D) 12%
Solution:
Ans: (b)



alternate sol:


Given that simple interest for 2 years is Rs.800


i.e., Simple interest for 1st year is Rs.400

and simple interest for 2nd year is also Rs.400


Compound interest for 1st year will be 400

and Compound interest for 2nd year will be 832 - 400 = 432


you can see that compound interest for 2nd year is more than simple interest for 2nd year by 432 - 400 = Rs.32 


i.e, Rs. 32 is the interest obtained for Rs.400 for 1 year


Rate, R = 100×SIPT =100×32400×1 =8% 


Knowledge Expert

· commented

· 1 Months ago

when SI and CI both will be calculated for the same number of years...

apj

· commented

· 1 Months ago

oronly when n=2
-logo
We at aim to provide most comprehensive content & test for practice which is carefully divided into various chapters and topics to help you focus on your weak areas.Our Practice mock test gives you unmatched analytics to help you realize your strong areas,time management and improvement areas.Our Short & Crisp notes on each topic will help you to quickly revise the topic along with the tips & tricks of the exams.
More About
-Info
-Info

Mobile App

Get it on Google Play
About Us Campus Ambassador Careers Contact Us Refund Policy

All Rights Reserved Top Rankers

User Policy
Disclaimer
Terms & Conditions