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Elementary Math Fractions, Percentages, Word Problems, Equations, Inequations, Factorization, Expansion


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  • 1 Post By DarnItJimImAnEngineer
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July 22nd, 2019, 06:33 AM   #1
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Why 2nd formula of C.I is used?

Value of X, Ram invested Rs 6400 on compound interest
at the rate of X% and gets an amount of Rs 8464 as interest after 2 yrs.

Quantity II → A/P = (1+ R/100)^n
→ √(8464/6400) = (1+ R/100)^n
→ 23/20 = 1 + R/100
→ R = 15%

There are C.I formulas:

C.I = P([1 + R/100]^n – 1);

A = P (1 + R/100)^n

Why 2nd formula of C.I is used?

Last edited by skipjack; July 22nd, 2019 at 03:55 PM. Reason: to correct use of parentheses
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July 22nd, 2019, 09:43 AM   #2
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Both formulas say the same thing. You could use either one and get the same answer.
Thanks from Ganesh Ujwal
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July 22nd, 2019, 03:55 PM   #3
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The first formula had misplaced parentheses, which I've corrected, so A = P + C.I.
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