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 10800 for 3 years at `12 1/2` % per annum compounded annually.
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?
Find the compound interest at the rate of 5% per annum for 3 years on that principal which in 3 years at the rate of 5% per annum gives Rs 1200 as simple interest.
In what time will Rs 1000 amount to Rs 1331 at 10% per annum, compound interest?
At what rate percent per annum will a sum of Rs 4000 yield compound interest of Rs 410 in 2 years?
A sum is invested at compound interest, compounded yearly. If the interest for two successive years is Rs. 5,700 and Rs. 7,410. calculate the rate of interest.
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 ?
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.
During every financial year, the value of a machine depreciates by 12%. Find the original cost of a machine which depreciates by Rs. 2,640 during the second financial year of its purchase.
A sum of Rs. 13,500 is invested at 16% per annum compound interest for 5years. Calculate :
(i) the interest for the first year.
(ii) the amount at the end of first year.
(iii) the interest for the second year, correct to the nearest rupee.
Calculate the amount and the compound interest on Rs. 12,000 in 2 years and at 10% per year.
Calculate the compound interest on Rs. 15,000 in 3 years; if the rates of interest for successive years be 6%, 8%, and 10% respectively.
Rekha borrowed Rs. 40,000 for 3 years at 10% per annum compound interest. Calculate the interest paid by her for the second year.
Peter borrows ₹ 12,000 for 2 years at 10% p.a. compound interest. He repays ₹ 8,000 at the end of the first year. Find:
- the amount at the end of the first year, before making the repayment.
- the amount at the end of the first year, after making the repayment.
- the principal for the second year.
- the amount to be paid at the end of the second year, to clear the account.
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.
Find the amount and the compound interest payable annually on the following :
Rs.25000 for 1`(1)/(2)` years at 10% per annum.
A man borrows Rs 62500 at 8% p.a., simple interest for 2 years. He immediately lends the money out at CI at the same rate and for same time. What is his gain at the end of 2 years?
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 ₹ 8000 at 10% p.a for 1 year, compounded half yearly is ____________
Find the C.I. on ₹ 15000 for 3 years if the rates of interest are 15%, 20% and 25% for the I, II and III years respectively
The sum which amounts to ₹ 2662 at 10% p.a in 3 years, compounded yearly is _________
Find the rate of compound interest at which a principal becomes 1.69 times itself in 2 years
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 ______.
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 ______.
Compound interest is the interest calculated on the previous year’s amount.
