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Compound Interest

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Published in: Management Subjects | Mathematics | Mental Maths
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It is helpful for all competitive exams and government job exams.

Mayank / Delhi

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Qualification: MBA/PGDM (Jamia Millia Islamia , Delhi - 2013)

Teaches: Economics, Geography, Science, Vedic Maths, Business Mathematics, DSSB, Police Department Exam, SSC CGL Exams, SSC Exams, Sub-Inspector Exam, BBA Entrance, MBA Entrance

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  1. Times x xN Black Holes of Aptitude-Compound Interest Compound Interest Interest: (I) Interest is money paid to the lender by the borrower for using his money for a specified period of time. Various terms and their general representation are as follows: Principal(P): The original sum borrowed Time (t): Time for which money is borrowed. Rate of Interest(r): Rate at which interest is calculated on the original sum. Amount (A): Sum of Principal and Interest. (P+I). 100 A=P+I Type I: Times Year NY If a sum becomes X times in Y years at CI, It will be XN times in NY years. Exp 1: A Sum of money invested at CI doubles itself in 6 years. At the same rate of interest it will amount to eight times of itself in: Solution: Times x xN =18 years Year NY Times 2 23(8) Year 6 OMayank [email protected],9990123477
  2. Black Holes of Aptitude-Compound Interest Type 11: Rate If a Sum becomes X times of itself in T years .Find rate % 1 RYO = ((X)F 100 Exp2: If the amount is 2.25 times of the sum after 2 years at CI (annually), the rate of percent per annum is: Solution: 1 RYO = ((X)i 100 1 RYO = ((2.25)ä Type 111 x=C1-S1 100-500/0 When difference between CI and SI on a certain sum of money for 2 years at R % is Rs. X, then Principal is given by: 100 When difference between CI and SI on a certain sum of money for 3 years at R % is Rs. X, then Principal is given by: x x 1003 R2 x (300 + R) Exp 3: The difference between the CI and SI on a sum at 4% rate of interest per annum for two years is Rs 80, Find the Principal: 100 2 100 2 P = 80 x [T] =50000 OMayank [email protected],9990123477
  3. Black Holes of Aptitude-Compound Interest Type IV: If the difference between CI and SI for 2 year is X and Rate is R % then: 2xxx100 RO/o- Exp 4: If the CI on a certain sum for 2 years at 3 % pa is Rs. 101.50, then the SI on the same sum at the same rate and for same time will be: RO/0 Sl=100 Type V: An amount of money grows up to Rs. Al in N years and A2 in N+ I year on Cl. Find Rate% and principal: RYO — Al) Al P=AI (AIN Exp 5: A certain sum of money amounts to Rs. 4840 in 2 years and to Rs 5324 in 3 years at Cl. The rate % pa is: RYO - Al) x IOO)/AI P=4000 RYO - 4840) x 100)/4840 Type VI: If a sum A becomes B in Tl years at CI, then after T 2 years the sum becomes: BT2/T1 Exp 6: Rs 4800 becomes Rs 6000 in 4 years at a certain rate of compound interest. What will be the sum after 12 years? =9375 OMayank [email protected],9990123477
  4. Black Holes of Aptitude-Compound Interest Type V: Annual Payment Annual Payment= IOO+R ) 14-( 100 +R 100 +R Exp 7: A builder borrows Rs. 2550 to be paid back with CI at the rate of 4 % per annum by the end of 2 years in two equal yearly installments. How much will be each installments be ? Solution: IOO+R 100 +R 2550 100 100 100 +4 100 +4 =1352 Note OMayank [email protected],9990123477

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