SATHEE: Quantitative Aptitude Ques 1343

Quantitative Aptitude Ques 1343

Question: An amount of money at compound interest grows upto Rs. 3840 in 4 yr and up to Rs. 3936 in 5 yr. Find the rate of interest.

Options:

A) 2.5%

B) 2%

C) 3.5%

D) 2.05%

Show Answer

Answer:

Correct Answer: A

Solution:

$ A=P{{( 1+\frac{r}{100} )}^{t}} $

$ \therefore $ $ 3840=P{{( 1+\frac{r}{100} )}^{4}} $ (i) and $ 3936=P{{( 1+\frac{r}{100} )}^{5}} $ … (ii) On dividing Eq. (ii) by Eq. (i), we get $ \frac{3936}{3840}=1+\frac{r}{100} $

$ \Rightarrow $ $ \frac{3936}{3840}-1=\frac{r}{100} $
$ \Rightarrow $ $ \frac{3936-3840}{3840}=\frac{r}{100} $

$ \Rightarrow $ $ \frac{96}{3840}=\frac{r}{100} $
$ \Rightarrow $ $ r=\frac{96\times 100}{3840} $

$ \therefore $ $ r=2.5% $ per annum Alternate Method Given, $ C _1=3840 $ and $ C _2=3936 $

$ \Rightarrow $ Rate of interest $ =\frac{C _2-C _1}{C _1}\times 100% $

$ \Rightarrow $ $ r=\frac{3936-3840}{3840}\times 100% $ $ r=\frac{96}{3840}\times 100% $
$ \Rightarrow $ $ r=\frac{960}{384} $ Rate of interest, $ r=25% $ per annum

Quantitative Aptitude Ques 1342

Quantitative Aptitude Ques 1344

Quantitative Aptitude Ques 1343

Question: An amount of money at compound interest grows upto Rs. 3840 in 4 yr and up to Rs. 3936 in 5 yr. Find the rate of interest.

Options:

Answer:

Solution:

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