Advertisements
Advertisements
Question
A sum amounts to Rs. 9680 in 2 years and to Rs. 10648 in 3 years respectively at compound interest. What will be the amount of the same sum `1 2/5` is invested for years at the same rate of compound interest?
Options
Rs.9025
Rs.9152
Rs.9215
Rs.9251
Advertisements
Solution
Rs.9152
Explanation:
Let the sum is ₨. p and rate of C.I. is r% then, from, question,
`9680="p"(1+"r"/100)^2` .......(i)
and 10648 = `"p"(1+"r"/100)^3` .............(ii)
from (i) and (ii),`1+"r"/100=10648/9680`
`1+"r"/100=1.1`
⇒ r = 10%
From (i), `"p"(1+10/100)^2=9680`
p(1.21) = 9680
p = ₨. 8000
`"t"=1 2/5` years = 1.4 years
Required Amount`"A"=8000(1+10/100)^1.4`
≈ ₹₨. 9152.
APPEARS IN
RELATED QUESTIONS
Choose the most appropriate option.
The difference between simple interest and compound interest at the same rate for rupees 5,000 for two years is rupees 98. The rate of interest is:
What will be the difference in simple and compound interest on Rs. 2, 000 after three years at the rate of 10 percent per annum?
The number of members of a club is increased by 10% every year. If the initial number of the members is 500, then what will be the number at the beginning of the third year?
The difference between compound interest and simple interest on an amount of ₹15000 for 2 years is ₹96. What is the rate of interest per annum?
What is the difference between the compound interest and simple interest accrued on an amount of ₹12000 at the end of 3 years at the rate of 12%?
What would be the simple interest on an amount of Rs. 9600 at the rate of 6% per annum after 3 years?
A man deposits Rs 200 at the end of each year in a recurring account at 5% compound interest. How much will it become at the end of 3 years?
The difference between simple interest and compound interest on a certain sum of money is Rs. 32 at 8% per annum for 2 years. Find the amount.
What will be the compound interest (in ₹) on ₹10,000 for 2 years at 5% per annum, compounded annually?
Ankit invests some money at 9% simple interest for 2 years, and the same sum for 4 years at 10% per annum. He earns ₹1,740 in all. The sum invested in each case is:
