Advertisements
Advertisements
Question
A borrowed Rs. 2,500 from B at 12% per annum compound interest. After 2 years, A gave Rs. 2,936 and a watch to B to clear the account. Find the cost of the watch.
Advertisements
Solution
For 1st year,
P = Rs. 2500
R = 12%
T = 1 year
I = `[ 2500 xx 12 xx 1 ]/[ 100 ]` = Rs. 300.
Amount = 2500 + 300 = Rs. 2800
For 2nd year,
P = Rs. 2800
R = 12%
T = 1 year
I = `[ 2800 xx 12 xx 1 ]/100` = Rs. 336
Amount = 2800 + 336 = Rs. 3136
Amount repaid by A to B = Rs. 2936
The amount of watch =Rs. 3136 - Rs. 2936 = Rs. 200
APPEARS IN
RELATED QUESTIONS
Jaya borrowed Rs. 50,000 for 2 years. The rates of interest for two successive years are 12% and 15% respectively. She repays 33,000 at the end of the first year. Find the amount she must pay at the end of the second year to clear her debt.
Calculate the amount and the compound interest for the following:
Rs.25, 000 at `8 2/5 %` p.a. in `1 1/3` years
Aryan borrowed a sum or Rs. 36,000 for `1 1/2` years at 10 % p.a. compound interest.
Find the amount he needs to return to clear the debt.
Ameeha loaned Rs. 24,000 to a friend for `2 1/2` at 10 % p.a. compond interest.
Calculate the amount received by her at the end of time period.
Mohan borrowed Rs 25,000 at 10% p.a. compound interest. If he pays back Rs 7,500 every year, find the amount of loan outstanding at the beginning of the fourth year.
Archana borrowed Rs 18,000 from Ritu at 12% p.a. compound interest. If at the end of the 1st, 2nd, and 3rd years, Archana returned Rs 5,250, Rs 5,875 and Rs 6,875 respectively, find the amount Archana has to pay Ritu at the end of the 4th year to clear her debt.
Meera borrowed Rs 12,500 on compound interest from Rajeev for 2 years when the rates of interest for successive years were 8% and 10%. If Meera returned Rs 7,500 at the end of the first year, find the amount she has to return at the end of the second year.
Ramesh saves Rs 4,000 every year and invests it at 10% p.a. compound interest. Calculate his savings at the end of the third year.
Rs.16,000 is invested at 5% compound interest compounded per annum. Use the table, given below, to find the amount in 4 years.
| Year ↓ |
Initial amount (Rs.) |
Interest (Rs.) |
Final amount (Rs.) |
| 1st | 16,000 | 800 | 16,800 |
| 2nd | ........... | ........... | ........... |
| 3rd | ........... | ........... | ........... |
| 4th | ........... | ........... | ........... |
| 5th | ........... | ........... | ........... |
Calculate the amount and the compound interest on :
Rs. 6,000 in 3 years at 5% per year.
