Advertisements
Advertisements
Question
A loan of ₹ 15000 was taken on compound interest. If the rate of compound interest is 12 p.c.p.a. find the amount to settle the loan after 3 years.
Advertisements
Solution
Here, P = ₹15000, R = 12 p.c.p.a., N = 3 years
We know that,
A = `P(1 + R/100)^N`
A = `15000(1 + 12/100)^3`
= `15000(1 + 3/25)^3`
= `15000(28/25)^3`
= `15000 xx 28/25 xx 28/25 xx 28/25`
= `(24 xx 28 xx 28 xx 28)/25`
= `526848/25`
= 21073.92
Hence, the amount is ₹ 21073.92.
RELATED QUESTIONS
The population of a place increased to 54,000 in 2003 at a rate of 5% per annum. what would be its population in 2005?
Compute the amount and the compound interest in the following by using the formulae when:
Principal = Rs 10000, Rate 20% per annum compounded half-yearly, Time = 2 years
The annual rate of growth in population of a certain city is 8%. If its present population is 196830, what it was 3 years ago?
Aman started a factory with an initial investment of Rs 100000. In the first year, he incurred a loss of 5%. However, during the second year, he earned a profit of 10% which in the third year rose to 12%. Calculate his net profit for the entire period of three years.
The population of a city increases each year by 4% of what it had been at the beginning of each year. If the population in 1999 had been 6760000, find the population of the city in (i) 2001 (ii) 1997.
Ms. Cherian purchased a boat for Rs 16000. If the total cost of the boat is depreciating at the rate of 5% per annum, calculate its value after 2 years.
Find the amount and the compound interest on ₹ 4,000 in 2 years, if the rate of interest for the first year is 10% and for the second year is 15%.
Find the amount and the compound interest on ₹ 10,000 in 3 years, if the rates of interest for the successive years are 10%, 15%, and 20% respectively.
The population of a city was 20,000 in the year 1997. It increased at the rate of 5% p.a. Find the population at the end of the year 2000.
In the year 2001, the number of malaria patients admitted in the hospitals of a state was 4,375. Every year this number decreases by 8%. Find the number of patients in 2003.
