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In what time will Rs. 1500 yield Rs. 496.50 as compound interest at 10% per annum compounded annually?
Concept: Concept of Compound Interest >> Use of Compound Interest in Computing Amount Over a Period of 2 Or 3-years
The present population of the town is 2,00,000. The population is increased by 10% in the first year and 15% in the second year. Find the population of the town at the end of two years.
Concept: Concept of Compound Interest >> Use of Compound Interest in Computing Amount Over a Period of 2 Or 3-years
If a, b, c are in continued proportion, prove that (a + b + c) (a – b + c) = a2 + b2 + c2
Concept: Concept of Compound Interest >> Compound Interest as a Repeated Simple Interest Computation with a Growing Principal
Ranbir borrows Rs. 20,000 at 12% per annum compound interest. If he repays Rs. 8400 at the end of the first year and Rs. 9680 at the end of the second year, find the amount of loan outstanding at the beginning of the third year.
Concept: Concept of Compound Interest >> Use of Compound Interest in Computing Amount Over a Period of 2 Or 3-years
A shopkeeper bought a washing machine at a discount of 20% from a wholesaler, the printed price of the washing machine being Rs. 18,000. The shopkeeper sells it to a consumer at a discount of 10% on the printed price. If the rate of sales tax is 8%, find:
(i) the VAT paid by the shopkeeper.
(ii) the total amount that the consumer pays for the washing machine
Concept: Tax and Its Computation
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1320 and for the third year is Rs. 1452. Calculate the rate of interest and the original sum of money
Concept: Concept of Compound Interest >> Use of Compound Interest in Computing Amount Over a Period of 2 Or 3-years
At what rate % p.a. will a sum of Rs. 4000 yield Rs. 1324 as compound interest in 3 years?
Concept: Concept of Compound Interest >> Compound Interest as a Repeated Simple Interest Computation with a Growing Principal
On what sum of money will the difference between the compound interest and simple interest for 2 years be equal to Rs. 25 if the rate of interest charged for both is 5% p.a.?
Concept: Concept of Compound Interest >> Compound Interest as a Repeated Simple Interest Computation with a Growing Principal
The printed price of an article is ₹ 60000. The wholesaler allows a discount of 20% to the shopkeeper. The shopkeeper sells the article to the customer at the printed price. Sales tax (under VAT) is charged at the rate of 6% at every stage. Find :
(i) the cost to the shopkeeper inclusive of tax.
(ii) VAT paid by the shopkeeper to the Government.
(iii) the cost to the customer inclusive of tax.
Concept: Tax and Its Computation
Mr Kumar borrowed Rs. 15000 for two years. The rates of interest for two successive years are 8% and 10% respectively. If he repays Rs. 6200 at the end of the first year, find the outstanding amount at the end of the second year.
Concept: Concept of Compound Interest >> Compound Interest as a Repeated Simple Interest Computation with a Growing Principal
In what period of time will Rs. 12,000 yield Rs. 3972 as compound interest at 10% per annum, if compounded on a yearly basis?
Concept: Concept of Compound Interest >> Use of Compound Interest in Computing Amount Over a Period of 2 Or 3-years
Tarun bought and article for Rs. 8000 and spent Rs. 1000 for transportation. He marked the article Rs. 11,700 and sold it to a customer. If the customer had to pay 10% sales tax, find:
(1) the customer’s price
(2) Tarun’s profit percent.
Concept: Tax and Its Computation
Nikita invests Rs. 6000 for two years at a certain rate of interest compounded annually. At the end of the first year, it amounts to Rs. 6720. Calculate:
- the rate of interest.
- the amount at the end of the second year.
Concept: Concept of Compound Interest >> Use of Compound Interest in Computing Amount Over a Period of 2 Or 3-years
Rohit borrows Rs. 86,000 from Arun for two years at 5% per annum simple interest. He immediately lends out this money to Akshay at 5% compound interest compounded annually for the same period. Calculate Rohit’s profit in the transaction at the end of two years.
Concept: Concept of Compound Interest >> Compound Interest as a Repeated Simple Interest Computation with a Growing Principal
A manufacturer marks an article for Rs. 5000. He sells it to a wholesaler at a discount of 25% on the marked price and the wholesaler sells it to a retailer at a discount of 15% on the marked price. The retailer sells it to a consumer at the marked price and at each stage, the VAT is 8%. Calculate the amount of VAT received by the government from:
(1) the wholesaler,
(2) the retailer.
Concept: Tax and Its Computation
A page from a savings bank account passbook is given below:
| Date | Particulars | Amount withdrawn (Rs.) |
Amount Deposited (Rs.) |
Balance (Rs.) |
| Jan 7, 2016 | B/F | 3,000.00 | ||
| Jan 10, 2016 | By Cheque | 2600.00 | 5600.00 | |
| Feb 8, 2016 | To Self | 1500.00 | 4100.00 | |
| Apr 6, 2016 | By Cheque | 2100.00 | 2000.00 | |
| May 4, 2016 | By Cash | 6500.00 | 8500.00 | |
| May 27, 2016 | By Cheque | 1500.00 | 10000.00 |
1) Calculate the interest for the 6 months from January to June 2016, at 6% per annum.
2) If the account is closed on 1st July 2016, find the amount received by the account holder.
Concept: Mathematics of Recurring Deposit (R.D.)
Mr. Richard has a recurring deposit account in a bank for 3 years at 7.5% p.a. simple interest. If he gets Rs. 8325 interest at the time of maturity, find
- the monthly deposit
- the maturity value.
Concept: Mathematics of Recurring Deposit (R.D.)
A page from the savings bank account of Mrs Ravi is given below.
| Date | Particulars | Withdrawal (Rs.) |
Deposit (Rs.) | Balance (Rs.) |
| April 3rd 2006 | B/F | 6000 | ||
| April 7th | By cash | 2300 | 8300 | |
| April 15th | By cheque | 3500 | 11800 | |
| May 20th | To self | 4200 | 7600 | |
| June 10th | By cash | 5800 | 13400 | |
| June 15th | To self | 3100 | 10300 | |
| August 13th | By cheque | 1000 | 11300 | |
| August 25th | To self | 7400 | 3900 | |
| September 6th 2006 |
By cash | 2000 | 5900 |
She closed the account on 30th September 2006. Calculate the interest Mrs Ravi earned
at the end of 30th September 2006 at 4.5% per annum interest. Hence, find the
amount she receives on closing the account.
Concept: Money and Banking in Arithmetic
Mohan has a recurring deposit account in a bank for 2 years at 6% p.a. simple interest. If he gets Rs. 1200 as interest at the time of maturity, find:
- the monthly instalment.
- the amount of maturity.
Concept: Money and Banking in Arithmetic
Sonia had a recurring deposit account in a bank and deposited Rs. 600 per month for 2 1/2 years. If the rate of interest was 10% p.a., find the maturity value of this account.
Concept: Money and Banking in Arithmetic
