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(#M40038274) CTS Numerical Ability question compound interest Keep an EYE

the minimum number of half years in which a sum of money kept 60% compund interest will be quadrupled is

Asked In cts HAREESH (10 years ago)

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jegatheeswari  (10 years ago)

Assume the initial amount will be 1000
quadrple means the amount will be 4 times higher than the initial amount so 4000
shortcut method for C.I
for 1st year=1000*60/100=600
for 2nd year=(1000+600)*60/100=960
for 3rd year=(100+600+960)*60/100=1536
for calculating th 4th year the amount will be(1000+600+960+1536)=4096..so gthe amount will be quardupled in the fourth year...
in 1year we have 2 half years..so 1st 3 year=6 half year..we calculate for 4th year the amount will be touch the 4000 in the first half year....so (6+1)=7 half year will be needed.

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srividhya  (10 years ago)

at the end of first year amt will be 1690
at the end of second year amt will be 2856
at end of tird year amt will be 3398
now 6 half years passed
at seventh half year amt will be quadrapled
ans is 7

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vishnu priya  (10 years ago)

but the CI formula is p(1+r/100)^n...by this if we solve we get only 2 years ie:4 half years

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