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Discussion :: Compound Interest

  1. What is the rate of interest p.c.p.a.?

    I. 

    An amount doubles itself in 5 years on simple interest.

    II. 

    Difference between the compound interest and the simple interest earned on a certain amount in 2 years is Rs. 400.

     III. 

    Simple interest earned per annum is Rs. 2000.
    2. A.

    I only
    B.

    II and III only
    C.

    All I, II and III
    D.

    Any two of the three
    E.

    I only or II and III only

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    Answer : Option E

    Explanation :

     I.\(\frac {P*R*5 } { 100 } =\)     R = 20.

     

     II.P[1+\(\frac {R} {100 }] ^2\)-p-\(\frac {P*R*2 } { 100 } =\)400     PR2 = 4000000.

     

    III.\(\frac {P*R*1 } { 100 } =\)2000=     PR = 200000

     

    \( \frac {PR^2} {PR} \)=\(\frac {4000000 } { 2 00000} \)     R = 20

     

    Thus I only or (II and III) give answer.

     

     

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