nikhil007 wrote:
what wrong am I doing, can someone point out?
{x(1+.02)^2 } -x > 100
taking x common on LHS
(x)(1.02)^2 -1>100
(x)(1.02)^2 >101
(x) 1.04 >101
x= 101\1.04
I think i am doing some silly calculation mistake here, can someone point me out pl.
{x(1+.02)^2 } -x > 100
taking x common on LHS
(x)(1.02)^2 -1>100
(x)(1.02)^2 >101
(x) 1.04 >101
x= 101\1.04
I think i am doing some silly calculation mistake here, can someone point me out pl.
Cheers,
Raj
Hi Nikhil,
I am not really sure what logic you are using here. Are you trying to do a Compound Interest?
The question asks for SI or Simple interest. The formula for which is :
I = PNR/100
where I - simple interest
P - principle amount/ amount invested
N - number of years
R - rate of interest per year
So,
I = 100
P = x
N = 1/2
R = 8
=> x= (100*100*2)/8
=> x= 25...
I think you, used the compound interest formula,
CI = P(1+R)^n
DUDE, DO NOT COMPLICATE. THINK SIMPLE!!!!