Q:
A borrows a sum of ₹2,000 from his friend B on 31 December 2011 on the condition that he will return the same after one year with simple interest at 8% per annum. However, A gets into a position of returning the money on 1 July 2012. How much amount he have to return to B?
Answer & Explanation Answer: D) ₹2,080
Explanation:
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Q:
Arvind deposited a sum of money with a bank on 1st January, 2012 at 8% simple interest per annum. He received an amount ₹ 3,144 on 7th August, 2012.
Answer & Explanation Answer: B) ₹ 3, 000
Explanation:
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Home » Aptitude » Compound Interest » Question
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At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2 years?
Here , Amount ( A ) = ₹ 1348.32 , P = ₹ 1200 , Rate ( R ) = ? , Time = 2 years
| A = P | 1 + | R | T | ||
| 100 |
| ⇒ 1348.32 = 1200 | 1 + | R | 2 | ||
| 100 |
| ⇒ | 1348.32 | = | 1 + | R | 2 | ||
| 1200 | 100 |
| ⇒ | 134832 | = | 1 + | R | 2 | ||
| 120000 | 100 |
| ⇒ | 11236 | = | 1 + | R | 2 | ||
| 10000 | 100 |
| ⇒ | 106 | 2 | = | 1 + | R | 2 | ||||
| 100 | 100 |
⇒ R = 6% per annum.