The amount will be 9 times its principle in two years the rate if interest is
200
250
150
None of these
If,
A=PXNXR/100
900=100X2XR/100
R=900X100/100X2
=450
But this answer is not there.
But,
If,
A=P(1+R/100)N
900=1OO(1+R/100)2
30=10(100+R/100)
30=100+R/10
300=100+R
therefore,
R=2OO
HOW WE WILL COME TO KNOW WHEN TO USE WHICH FORMULA?
today cpt quantitative aptitude question is very very tough.i've not done ok.
the first formula is used when using simple interest and the second formula when using compound interest which is always used unless the problem asks specifically to use simple interest, compound interest is always used
thanx.................
keep me helping!!!!!!!!!!!!!!!!
CAclubindia
