Question Bank › General Aptitude › Compound Interest › ABC26GN4125ABC26GN4125 · Compound Interest Subject: General Aptitude · Chapter: Compound Interest · Exam: 2008 · Marks: · Difficulty:
The simple interest accrued on an amount of ` 40000 at the end of four years is ` 24000. What would be the compound interest accrued on the same amount at the same rate in the same period?
Answer Explanation Clearly, Principal = ` 40000, Time = 4 years, S.I. = ` 24000. 100 × 24000 So, Rate = % = 15%. 40000 × 4 15 4 23 23 23 23 279841 Amount = ` 40000 × 1 + = ` 40000 × × × × = ` = ` 69960.25. 100 20 20 20 20 4 \ C.I. = ` (69960.25 – 40000) = ` 29960.25.
Explanation as extracted from the printed page; notation may be imperfect.
← Previous in chapter · Chapter list · Next in chapter → Open in whiteboard · Browse this chapter in the app