ABC26GN4126 · Compound Interest

Subject: General Aptitude · Chapter: Compound Interest · Exam: 2010 · Marks: · Difficulty:

Rohit invested a certain amount at the rate of 6 p.c.p. a and obtained a simple interest of ` 8730 at the end of 3 years. What amount of compound interest would he obtain on the same amount at the same rate of interest at the end of 2 years?

Answer

Answer (as printed):

Explanation

Clearly, Rate = 6% p.a; Time = 3 years, S.I. = ` 8730.  100 × 8730  So, Principal = `   = ` 48500.  3×6    6   2  53 53  Amount = `  48500 ×  1 +   = `  48500 × ×  = ` 54494.60.   100    50 50  \ C.I. = ` (54494.60 – 48500) = ` 5994.60.

Explanation as extracted from the printed page; notation may be imperfect.

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