Advertisements
Advertisements
प्रश्न
Find the rate of compound interest at which a principal becomes 1.69 times itself in 2 years
Advertisements
उत्तर
Let principal be ‘P’
Amount is given to be 1.69 times principal
i.e 1.69 P
Time period is 2 years. = (n)
Rate of interest = r = ? ...(required)
Applying the formula,
Amount = `"Principal" (1 + "r"/100)^"n"`
Substituting 1.69 P = `"P"(1 + "r"/100)^2`
∴ `(1 + "r"/100)^2 = (1.69"P")/"P"` = 1.69
Taking square root on both sides, we get
`sqrt(1.69) = 1 + "r"/100`
∴ `1 + "r"/100` = 1.3
∴ `"r"/100` = 1.3
r = 30%
∴ rate of compound interest is 30%
APPEARS IN
संबंधित प्रश्न
Calculate the amount and compound interest on Rs 10000 for 1 year at 8% per annum compounded half yearly.
The present population of a town is 28000. If it increases at the rate of 5% per annum, what will be its population after 2 years?
Find the amount and the compound interest.
| No. | Principal (₹) | Rate (p.c.p.a.) | Duration (Years) |
| 1 | 2000 | 5 | 2 |
| 2 | 5000 | 8 | 3 |
| 3 | 4000 | 7.5 | 2 |
Rachna borrows Rs. 12,000 at 10 percent per annum interest compounded half-yearly. She repays Rs. 4,000 at the end of every six months. Calculate the third payment she has to make at end of 18 months in order to clear the entire loan.
A man borrowed Rs. 20,000 for 2 years at 8% per year compound interest. Calculate :
(i) the interest of the first year.
(ii) the interest of the second year.
(iii) the final amount at the end of the second year.
(iv) the compound interest of two years.
The compound interest on ₹ 5000 at 12% p.a for 2 years, compounded annually is ___________
Depreciation value is calculated by the formula, `"P"(1 - "r"/100)^"n"`
Find the compound interest for `2 1/2` years on ₹ 4000 at 10% p.a, if the interest is compounded yearly
The number of conversion periods in a year, if the interest on a principal is compounded every two months is ___________
Suppose a certain sum doubles in 2 years at r % rate of simple interest per annum or at R% rate of interest per annum compounded annually. We have ______.
