CMAT 2013 Solved Question Paper

(b) Cl for 2 yr = ₹ 756
SI for 2 yr = ₹ 720
It means compound interest on the interest of the firstyear = (756 - 720) = ₹ 36
This implies that the rate of interest is 10%.
∴ $\frac{36}{360}$ x 100 = 10%
It means the principal for the first year was ₹ 3600.
∴ $\frac{\mathit{p}\times 10\times 1}{100}$ = 360
∴ P = 3600
Now, $\frac{\mathit{p}\times \mathit{k}\times \mathit{k}}{100}$ = SI
⇒ $\frac{3600\times {\mathit{k}}^2}{100}$ = 900
∴ k = 5