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If P=S(1+r/100)^n where P is the amount from investment, S is principa

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If P=S(1+r/100)^n where P is the amount from investment, S is principa  [#permalink]

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New post 30 Mar 2016, 23:27
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Difficulty:

  55% (hard)

Question Stats:

58% (01:37) correct 42% (01:32) wrong based on 72 sessions

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If P=S(1+r/100)^n where P is the amount from investment, S is principal, and r is a compound interest rate after n years, by what percent the amount from investment increases between after n years and after n+5 years?

1) n=10
2) r=10


* A solution will be posted in two days.

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Re: If P=S(1+r/100)^n where P is the amount from investment, S is principa  [#permalink]

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New post 31 Mar 2016, 00:04
Percentage increase = ((Final Value - Initial Value)/(Initial Value))*100 = ((Final Value/Initial Value) - 1)*100

Final value/Initial value = (1 + r/100)^(n+5)/(1 + r/100)^n = (1 + r/100)^(n + 5 - n) = (1 + r/100)^5

Answer is dependent on the value of 'r'.

St2 is sufficient.

Answer: B
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Re: If P=S(1+r/100)^n where P is the amount from investment, S is principa  [#permalink]

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New post 03 Apr 2016, 02:50
Forget conventional ways of solving math questions. In DS, Variable approach is the easiest and quickest way to find the answer without actually solving the problem. Remember equal number of variables and independent equations ensures a solution.

If P=S(1+r/100)^n where P is the amount from investment, S is principal, and r is a compound interest rate after n years, by what percent the amount from investment increases between after n years and after n+5 years?

1) n=10
2) r=10


When you modify the original condition and the question, you only need to figure out r from
Attachment:
a.jpg
a.jpg [ 6.37 KiB | Viewed 3434 times ]

Thus, B is the answer.
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Re: If P=S(1+r/100)^n where P is the amount from investment, S is principa  [#permalink]

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New post 17 Feb 2019, 00:20
Here, interest refers to compound or simple?? If compound, then I believe the interest will vary as per time also..
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Re: If P=S(1+r/100)^n where P is the amount from investment, S is principa   [#permalink] 17 Feb 2019, 00:20
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