Advertisements
Advertisements
प्रश्न
Rahim borrowed Rs 10,24,000 from a bank for one year. If the bank charges interest of 5% per annum, compounded half-yearly, what amount will he have to pay after the given time period. Also, find the interest paid by him.
Advertisements
उत्तर
Given, Amount borrowed by Rahim (P) = 1024000 with a time period (T) = 1 yr.
Also, Rate of interest (R) = 5% per annum compounded half-yearly.
Let Amount = A
Now, for interest compounded half-yearly
`A = P(1 + (R/n))^(2T)`
⇒ `A = 1024000(1 + (5/200))^(2(1))`
Since, In half-yearly `R = R/2` and T = 2T
⇒ `A = 1024000(1 + (5/200))^2`
= `1024000 (1 + (1/40))^2`
= `1024000(41/40)^2`
= `1024000 xx (41/40) xx (41/40)`
= 640 × 41 × 41
= Rs. 1075840
Now, we know compound interest, CI = Amount – Principle
⇒ CI = 1075840 – 1024000
= Rs. 51840
Hence, interest paid by him is Rs. 51840.
APPEARS IN
संबंधित प्रश्न
Kamala borrowed Rs 26400 from a Bank to buy a scooter at a rate of 15% p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan?
(Hint: Find A for 2 years with interest is compounded yearly and then find SI on the 2nd year amount for `4/12` years.)
Vasudevan invested Rs 60000 at an interest rate of 12% per annum compounded half yearly. What amount would he get
(1) after 6 months?
(2) after 1 year?
Arif took a loan of Rs 80,000 from a bank. If the rate of interest is 10% per annum, find the difference in amounts he would be paying after `1 1/2` years if the interest is
(1) Compounded annually
(2) Compounded half yearly
Find the amount and the compound interest on Rs 10,000 for `1 1/2` years at 10% per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?
Roma borrowed Rs 64000 from a bank for \[1\frac{1}{2}\] years at the rate of 10% per annum. Compute the total compound interest payable by Roma after \[1\frac{1}{2}\] years, if the interest is compounded half-yearly.
Abha purchased a house from Avas Parishad on credit. If the cost of the house is Rs 64000 and the rate of interest is 5% per annum compounded half-yearly, find the interest paid by Abha after one year and a half.
Rakesh lent out Rs 10000 for 2 years at 20% per annum, compounded annually. How much more he could earn if the interest be compounded half-yearly?
In what time will Rs 4400 become Rs 4576 at 8% per annum interest compounded half-yearly?
At what rate percent compound interest per annum will Rs 640 amount to Rs 774.40 in 2 years?
Find the rate percent per annum if Rs 2000 amount to Rs 2662 in \[1\frac{1}{2}\] years, interest being compounded half-yearly?
