Compound Interest
Tested in 4 real MPSC questions across 2 years (2017–2018). See it in context on the interactive Concept Graph →
Years it was asked
What you need to know first
Real questions that test this
रीना ने व्याजाच्या दराइतक्या वर्षांसाठी सरळ व्याजाने ₹ 1200 कर्ज घेतले जर तिने कर्ज फेडताना ₹ 432 व्याज दिले तर व्याजाचा दर किती होता ?
Let rate be R% and time be R years. Simple Interest formula is (P * R * T) / 100 = SI. Here, 1200 * R * R / 100 = 432 => 12 * R² = 432 => R² = 36 => R = 6.
सुनील ने द.सा.द.शे. 12.5 दराने ₹ 16,000, 3 वर्षाच्या मुदतीने विहिरीवर पंप बसविण्यासाठी चक्रवाढ व्याजाने कर्ज घेतले. हेच कर्ज जर सरळ व्याजाने घेतले असते, तर दोन्ही प्रकारच्या व्याजात किती फरक पडला असता ? In order to buy a lift pump for his well, Sunil borrowed ₹ 16,000 for 3 years at the rate of compound intrest of 12.5 p.c.p.a. What would have been the difference in the interest on this principal had he borrowed it at simple interest ?
Principal P = 16000, Time n = 3 years, Rate R = 12.5% (or 1/8). CI = P * (1 + 1/8)³ - P. SI = (P * R * T) / 100. The difference between CI and SI for 3 years is calculated as ₹ 781.25.