Management Aptitude Test Dec 2019 Paper

Question : 114 of 200

Marks: +1, -0

The compound interest accrued on an amount of

₹ 16800

at the end of two years is

₹ 5418

. What would be the simple interest accrued on the same amount at the same rate in the same period?

Solution:

Let the rate of interest be

r

{\Cl}=P[(1+{r}/{100})^{n}-1]

⇒5418=16800[(1+{r}/{100})^{2}-1]

⇒{5418}/{16800}=(1+{r}/{100})^{2}-1

⇒(1+{r}/{100})^{2}={22218}/{16800}=1.3225

⇒ 1+{r}/{100}=1.15

∴r=15 \%

\SI={16800 × 15 × 2}/{100}=₹ 5040

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