Advertisements
Advertisements
Question
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 ?
Advertisements
Solution
For 1st year :
P = Rs. 10,000; R = 10% and T = 1 year
Interest = Rs. `[10,000 xx 10 xx 1]/100`= Rs.1,000
Amount at the end of 1st year = Rs. 10,000 + Rs. 1,000 = Rs. 11,000
Money paid at the end of 1st year = 30% of Rs. 10,000 = Rs. 3,000
∴ Principal for 2nd year = Rs. 11,000 - Rs. 3,000 = Rs. 8,000
For 2nd year :
P = Rs. 8,000; R = 10% and T = 1 year
Interest = Rs. `[8,000 xx 10 xx 1]/[100]` = Rs. 800
Amount at the end of 2nd year = Rs. 8,000 + Rs. 800 = Rs. 8,800
Money paid at the end of 2nd year = 30% of Rs. 10,000 = Rs. 3,000
∴ Principal for 3rd year = Rs. 8,800 - Rs. 3,000 =Rs. 5,800.
APPEARS IN
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 10000 for 1 year at 8% per annum compounded half yearly.
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 how much time would Rs 5000 amount to Rs 6655 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?
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?
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 original sum.
The cost of a machine depreciated by Rs. 4,000 during the first year and by Rs. 3,600 during the second year. Calculate :
- The rate of depreciation.
- The original cost of the machine.
- Its cost at the end of the third year.
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.
What sum will amount of Rs. 6,593.40 in 2 years at C.I. , if the rates are 10 per cent and 11 per cent for the two successive years ?
The value of a machine depreciated by 10% per year during the first two years and 15% per year during the third year. Express the total depreciation of the machine, as percent, during the three years.
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.
A man invests Rs. 9600 at 10% per annum compound interest for 3 years. Calculate :
(i) the interest for the first year.
(ii) the amount at the end of the first year.
(iii) the interest for the second year.
(iv) the interest for the third year. the interest for the first year.
Rohit borrowed ₹ 40,000 for 2 years at 10% per annum C.I. and Manish borrowed the same sum for the same time at 10.5% per annum simple interest. Which of these two gets less interest and by how much?
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.
Find the amount and the compound interest payable annually on the following :
Rs.25000 for 1`(1)/(2)` years at 10% per annum.
The simple interest on a certain sum of money at 4% p.a. for 2 years is Rs1500. What will be the compound interest on the same sum for the same time?
Find the difference between simple and compound interest on Rs 5000 invested for 3 years at 6% p.a., interest payable yearly.
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 C.I. payable annually and S.I. on Rs.50,000 for two years is Rs.125 at the same rate of interest per annum. Find the rate of interest.
The present value of a machine is ₹ 16800. It depreciates at 25% p.a. Its worth after 2 years is ₹ 9450
Find the compound interest on ₹ 3200 at 2.5% p.a for 2 years, compounded annually
A principal becomes ₹ 2028 in 2 years at 4% p.a compound interest. Find the principal
The cost of a machine is ₹ 18000 and it depreciates at `16 2/3 %` annually. Its value after 2 years will be ___________
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 ______.
To calculate the growth of a bacteria if the rate of growth is known, the formula for calculation of amount in compound interest can be used.
