Which is basically the simple interest upon x. R 2 9 T 2 3 years. The interest rate and frequency of compounding which may be yearly half yearly quarterly monthly daily etc.
We know that If sum of money becomes x times in t years at simple interest then the rate is calculated as.
The techniques and methods we apply to solve a particular problems in a particular topic of quantitative aptitude will not work for another problem found in some other topic. This is the aptitude questions and answers section on Compound Interest with explanation for various interview competitive examination and entrance test. It is the interest added to the principal of a loan or deposit so that the added interest also earns interestThis process is called compounding and can also be referred as interest on interest. We have to find the sum or principal.