Quantitative Aptitude – Interest – For the same principal amount, the compound interest


Slot – 1 – Quantitative Aptitude – Interest – For the same principal amount, the compound interest


Q. For the same principal amount, the compound interest for two years at 5% per annum exceeds the simple interest for three years at 3% per annum by Rs 1125. Then the principal amount in rupees is ?
Answer: 90000

Solution:
Let the principal be P .
As per question ,
P { (1+5/100)^2- 1}-P×3×3/100=1125
0.1025P – 0.09P = 1125
P = 90000


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