Latest CAT Aptitude Question SOLUTION: The compound interest on a certain sum for 2 years is 40.80 and the S.I. is Rs.40.find the sum?

• Placement Papers
• /
• CAT

CAT Question Papers:

(#M40020026) CAT question Keep an EYE

The compound interest on a certain sum for 2 years is 40.80 and the S.I. is Rs.40.find the sum?

Asked In CAT (10 years ago)

Unsolved Read Solution (3)

Is this Puzzle helpful?   (34)   (21) Submit Your Solution

Read Solution (3) :

Alok Kumar  (10 years ago)

ANS : RS 500.00
we know that the SI for every year is same hence SI for 1st yr is 20 and for 2nd year is 20
again for 1st year SI = CI so the difference in CI-SI = 0.8 due to 2nd year
and this difference is due to the interest on the interest of 1st year
so Rate = (0.8/20)*100 = 4%
now we can calculate the sum by formula SI = (p*r*i)/100
p = (20*100)/4 = 500 (we have calculated for 1 year )

Is this solution Helpfull? Yes (10) | No (2)  

rahul jha  (10 years ago)

answer--->500Rs
1st yr--->> SI:20
CI:20(1st yr CI alwz same as SI)
2nd yr--->> SI:20(same for every year)
CI=20+(20*r*1)/100 note:(1st yr interest)
so 2nd yr CI=2 yr CI-1st yr CI
20+(20*r*1)/100=20.8
r=4%
for 1st yr,p=(100*20)/4*1=500

Is this solution Helpfull? Yes (7) | No (2)  

G Srinivas  (8 years ago)

4% and Sum Rs.500 ...

Is this solution Helpfull? Yes | No   

Please Login to Read Solution.