For a certain sum at 12.5% rate of interest compounded annually for 3 years the interest for the third year is 1944. Find the SI on the same amount at 15% for 5 years.
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Answer (Detailed Solution Below)Option 4 : 9216 Shortcut Trick \(12.5\% = \frac{1}{8}\) Let P be (8)3 = 512 CI of 3rd year = 64 + 8 + 8 + 1 = 81 81 = 1944 \(⇒ 512 = \frac{{512 \times 1944}}{{81}}\) ⇒ P = 12288 \(SI = \frac{{PRT}}{{100}}\) \(⇒ \frac{{12288 \times 15 \times 5}}{{100}}\) ⇒ 9216 ∴ The required simple interest is Rs. 9216. Let's discuss the concepts related to Interest and Simple and Compound Both. Explore more from Quantitative Aptitude here. Learn now!
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What sum will the compound interest at 5% per annum for 2 years compounded annually be rupees 1640?100×4×16441=Rs. 1600.
On what sum will the compound interest at 5% per annum for 2 years compounded annually be Rs 3280 a RS 32000 B Rs 16000 C RS 48000 D RS 64000?Thus, required sum is Rs. 1600.
What sum interested at the rate of 5% per annum for 2 years will earn as the compound interest?<br> `164=P(1+5/100)^2`-P<br> On solving we get=>P=Rs. 1600. Step by step solution by experts to help you in doubt clearance & scoring excellent marks in exams.
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