Advertisements
Advertisements
Question
A certain sum amounts to Rs. 5,292 in two years and Rs. 5,556.60 in three years, interest being compounded annually. Find : the rate of interest.
Advertisements
Solution
Amount in two years= Rs. 5,292
Amount in three years= Rs. 5,556.60
Difference between the amounts of two successive years
= Rs. 5,556.60 - Rs. 5,292 = Rs. 264.60
⇒ Rs. 264.60 is the interest of one year on Rs. 5,292
∴ Rate of interest = Rs. `[ 100 xx "I"]/[ "P" xx "T"] %`
= `[ 100 xx 264.60 ]/[ 5,292 xx 1 ] %`
= 5%
APPEARS IN
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 18000 for `2 1/2` years at 10% per annum compounded annually.
Find the difference between the compound interest and simple interest. On a sum of Rs 50,000 at 10% per annum for 2 years.
What will Rs 125000 amount to at the rate of 6%, if the interest is calculated after every 3 months?
The difference between the compound interest and simple interest on a certain sum for 2 years at 7.5% per annum is Rs 360. Find the sum.
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?
In how many years ₹ 700 will amount to ₹ 847 at a compound interest rate of 10 p.c.p.a.
Mohit invests Rs. 8,000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. 9,440. Calculate:
- the rate of interest per annum.
- the amount at the end of the second year.
- the interest accrued in the third year.
Geeta borrowed Rs. 15,000 for 18 months at a certain rate of interest compounded semi-annually. If at the end of six months it amounted to Rs. 15,600; calculate :
(i) the rate of interest per annum.
(ii) the total amount of money that Geeta must pay at the end of 18 months in order to clear the account.
Find the sum, invested at 10% compounded annually, on which the interest for the third year exceeds the interest of the first year by Rs. 252.
A man borrows Rs.10,000 at 10% compound interest compounded yearly. At the end of each year, he pays back 30% of the sum borrowed. How much money is left unpaid just after the second year ?
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.
On a certain sum of money, invested at the rate of 10 percent per annum compounded annually, the interest for the first year plus the interest for the third year is Rs. 2,652. Find the sum.
Saurabh invests Rs. 48,000 for 7 years at 10% per annum compound interest. Calculate:
(i) the interest for the first year.
(ii) the amount at the end of second year.
(iii) the interest for the third year.
Ashok borrowed Rs. 12,000 at some rate on compound interest. After a year, he paid back Rs.4,000. If the compound interest for the second year is Rs. 920, find:
- The rate of interest charged
- The amount of debt at the end of the second year
A sum of Rs. 8,000 is invested for 2 years at 10% per annum compound interest. Calculate:
(i) interest for the first year.
(ii) principal for the second year.
(iii) interest for the second year.
(iv) the final amount at the end of the second year
(v) compound interest earned in 2 years.
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.
Mohan borrowed Rs. 16,000 for 3 years at 5% per annum compound interest. Calculate the amount that Mohan will pay at the end of 3 years.
A certain sum of money invested for 5 years at 8% p.a. simple interest earns an interest of ₹ 12,000. Find:
(i) the sum of money.
(ii) the compound interest earned by this money in two years and at 10% p.a. compound interest.
The compound interest payable annually on a certain sum for 2 years is Rs 40.80 and the simple interest is Rs 40. Find the sum and the rate percent.
The difference between simple interest and compound interest compounded annually on a certain sum is Rs.448 for 2 years at 8 percent per annum. Find the sum.
The compound interest on ₹ 5000 at 12% p.a for 2 years, compounded annually is ___________
The compound interest on ₹ 16000 for 9 months at 20% p.a, compounded quarterly is ₹ 2522
Find the compound interest for `2 1/2` years on ₹ 4000 at 10% p.a, if the interest is compounded yearly
A principal becomes ₹ 2028 in 2 years at 4% p.a compound interest. Find the principal
In how many years will ₹ 3375 become ₹ 4096 at `13 1/3` p.a if the interest is compounded half-yearly?
The sum which amounts to ₹ 2662 at 10% p.a in 3 years, compounded yearly is _________
The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually is ______.
A sum is taken for two years at 16% p.a. If interest is compounded after every three months, the number of times for which interest is charged in 2 years is ______.
