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Home Aptitude Compound Interest See What Others Are Saying!
  • Question
  • An amount is invested in a bank at compound rate of interest . The total amount, including interest, after first and third year is ? 1200 and ? 1587, respectively . What is the rate of interest?


  • Options
  • A. 10 %
  • B. 3.9 %
  • C. 12 %
  • D. 15 %

  • Correct Answer
  • 15 % 

    Explanation

    Let amount be ? P and rate of interest be R % annually .
    According to the question,
    Amount after 1st yr = ? 1200
    ? P(1 + R/100) = 1200 ...(i)
    Amount after 3rd yr = 1587
    ? P(1 + R/100)3 = 1587 ...(ii)
    On dividing Eq. (ii) from Eq. (i), we get
    (1 + R/100)2 = 1587/1200 = 529/400
    ? 1 + R/100 = 23/20
    ? R/100 = 3/20
    ? R = 15 %


  • More questions

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      The median for the data 2, 4, 6, 8, 10, 12, 14 is

    • Options
    • A. 6
    • B. 8
    • C. 9.5
    • D. 10
    • Discuss
    • 2. 
      The value of 47 / 10000 is?

    • Options
    • A. .0047
    • B. .0470
    • C. .00047
    • D. .000047
    • Discuss
    • 3. If 4x = 18y, then the value of ( x/y - 1) is

    • Options
    • A. 1 3
    • B. 7 2
    • C. 2 3
    • D. 3 2
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    • 4. 
      If the price of 23 toys is Rs. 276, then what will the price (Rs.) of 12 toys?

    • Options
    • A. 144
    • B. 158
    • C. 159
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    • 5. 
      .02 =(......?.....)%

    • Options
    • A. 20
    • B. 2
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    • 6. 
      If 36 men can do a piece of work in 25 hours, in how many hours will 15 men do it?

    • Options
    • A. 45
    • B. 55
    • C. 60
    • D. 72
    • Discuss
    • 7. 
      2?63 / 11 =233

    • Options
    • A. 4
    • B. 3
    • C. 6
    • D. 5
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    • 8. 
      When 121012 is divided by 12, the remainder is

    • Options
    • A. 0
    • B. 2
    • C. 3
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    • 9. 
      Aarti can do a piece of work in 6 days. In how many days will she complete three time of work of same type?

    • Options
    • A. 18 days
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    • Discuss
    • 10. 
      750.0003 ÷ 19.999 =?

    • Options
    • A. 49
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    • C. 22
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