CAT 2021 Interest Question (Medium)

Question

The difference between the compound interest and simple interest for two years on a certain sum at a certain rate of interest is Rs. 64. The compound interest for two years is Rs. 704. The principal is

Optima Learn · Accepted Answer

To find the principal, we need to use the standard relationship between CI, SI, and the rate over two years. Understanding the setup CI for 2 years 704, and CI SI 64, so SI for 2 years 704 64 640. Analyzing the Calculation since SI for 2 years 2Pr 100, we get Pr 100 320, i.e. Pr 32000. Also, for 2 y

CAT 2021 Interest — Previous Year Question

CAT 2021

Quantitative

Interest

Medium

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