
Elementary Math Fractions, Percentages, Word Problems, Equations, Inequations, Factorization, Expansion 
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July 22nd, 2019, 06:33 AM  #1 
Senior Member Joined: Aug 2014 From: India Posts: 458 Thanks: 1  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 
July 22nd, 2019, 09:43 AM  #2 
Senior Member Joined: Jun 2019 From: USA Posts: 120 Thanks: 40 
Both formulas say the same thing. You could use either one and get the same answer.

July 22nd, 2019, 03:55 PM  #3 
Global Moderator Joined: Dec 2006 Posts: 20,921 Thanks: 2203 
The first formula had misplaced parentheses, which I've corrected, so A = P + C.I.


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