Latest general Aptitude Question SOLUTION: How much time it will take to double the amount with simple interest, if the difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs.

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(#M40010394) GENERAL question Keep an EYE

How much time it will take to double the amount with simple interest, if the difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96 ?

Asked In general Devendra Marghade (12 years ago)

Solved Garima Read Solution (3)

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Garima  (12 years ago)

12.5 yrs

it means Rs 96 is interest for one year on one year interest on Rs 15000.
If I is interest on Rs 15000 /- for ne year @ r%, then

96 = I*1*r/100 where I= 15000*1*r/100
so r= 8%

if t is time taken to double the amount with simple interest @ 8%, then
t = (15000*100)/(15000*8) = 100/8 = 25/2 = 12.5 years.

Is this solution Helpfull? Yes (3) | No (1)  

Garima  (12 years ago)

12.5 yrs

it means Rs 96 is interest for one year on one year interest on Rs 15000.
If I is interest on Rs 15000 /- for ne year @ r%, then

96 = I81*r/100 where I= 15000*1*r/100
so r= 8%

if t is time taken to double the amount with simple interest @ 8%, then
t = (15000*100)/(15000*8) = 100/8 = 25/2 = 12.5 years.

Is this solution Helpfull? Yes (2) | No   

Anuj Katiyal  (12 years ago)

check out this link http://www.indiabix.com/aptitude/compound-interest/049003

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