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?

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(#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 (11 years ago)

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Alok Kumar  (11 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 )

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rahul jha  (11 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

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G Srinivas  (9 years ago)

4% and Sum Rs.500 ...

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