Rs.3000 Amounts to What in Half of the Time?

If Rs.3000 amounts to Rs.4320 at compound interest in a certain time, then Rs.3000 amounts to what in half of the time?

  1. Rs.3400
  2. Rs.3600
  3. Rs.3800
  4. Rs.3520
vijay Professor Asked on 1st August 2015 in Maths.
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1 Answer(s)

Answer: (2) Rs.3600
Explanation:-
Formula-
Compound Interest = P [(1 + R/100)t – 1]
Where, P = principal, R = rate, t = time.

Let the rate of interest be = R %
Time = T
According to the question,
4320 = 3000(1 + R/100)T
(1 + R/100)T/2 = (1.44)1/2 = 1.2
In T/2 years principal (Rs.3000) will amount to
3000(1 + R/100)T/2 = 3000 x 1.2
= Rs.3600
Hence, the answer is (2) Rs.3600.

Anurag Mishra Professor Answered on 2nd August 2015.
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