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A sum amounts to RS. 2916 in 2 yr and RS. 3149.28 in 3 yr at compound interest. The sum is
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A) RS.1500 |
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B) RS.2500 |
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C) RS.2000 |
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D) RS.3000 |
Correct Answer:
| B) RS.2500 |
Description for Correct answer:
Let required amount be RS. P
According to the question,
2916 =\( \Large P \left(1+ \frac{R}{100}\right)^{2} \) .....(i)
and 3149.28 = \( \Large P \left(1+ \frac{R}{100}\right)^{3} \) ....(ii)
On dividing Eq. (ii) by Eq. (i), we get
\( \Large 1+ \frac{R}{100} \)=\( \Large \frac{3149.28}{2916} \) => \( \Large \frac{R}{100} \)= \( \Large \frac{3149.28}{2916}-1 \)
=> R=\( \Large \frac{233.28}{2916}\times 100 \)=8%
From Eq. (i),
P=\( \Large \frac{2916\times 100\times 100}{108\times 108} \)=RS.2500
Let required amount be RS. P
According to the question,
2916 =\( \Large P \left(1+ \frac{R}{100}\right)^{2} \) .....(i)
and 3149.28 = \( \Large P \left(1+ \frac{R}{100}\right)^{3} \) ....(ii)
On dividing Eq. (ii) by Eq. (i), we get
\( \Large 1+ \frac{R}{100} \)=\( \Large \frac{3149.28}{2916} \) => \( \Large \frac{R}{100} \)= \( \Large \frac{3149.28}{2916}-1 \)
=> R=\( \Large \frac{233.28}{2916}\times 100 \)=8%
From Eq. (i),
P=\( \Large \frac{2916\times 100\times 100}{108\times 108} \)=RS.2500
Part of solved Compound interest questions and answers : >> Aptitude >> Compound interest
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