Advertisements
Advertisements
Question
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.
Advertisements
Solution
For 1st year :
P = Rs. 13,500; R = 16% and T = 1 year
Interest = Rs. `[13,500 xx 16 xx 1]/[100]`= Rs. 2,160
Amount = Rs. 13,500 + Rs. 2,160= Rs. 15,660
For 2nd year :
P = Rs. 15,660; R = 16% and T = 1 year
Interest = Rs. `[15,660 xx 16 xx 1]/[100]`= Rs. 2,505.60 = Rs. 2,506
APPEARS IN
RELATED QUESTIONS
Find the difference between the compound interest and simple interest. On a sum of Rs 50,000 at 10% per annum for 2 years.
Simple interest on a sum of money for 2 years at \[6\frac{1}{2} %\] per annum is Rs 5200. What will be the compound interest on the sum at the same rate for the same period?
The interest on a sum of Rs 2000 is being compounded annually at the rate of 4% per annum. Find the period for which the compound interest is Rs 163.20.
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?
Find the amount and the compound interest.
| No. | Principal (₹) | Rate (p.c.p.a.) | Duration (Years) |
| 1 | 2000 | 5 | 2 |
| 2 | 5000 | 8 | 3 |
| 3 | 4000 | 7.5 | 2 |
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 certain sum of money is put at compound interest, compounded half-yearly. If the interest for two successive half-years are Rs. 650 and Rs. 760.50; find the rate of interest.
Ramesh invests Rs. 12,800 for three years at the rate of 10% per annum compound interest. Find:
- the sum due to Ramesh at the end of the first year.
- the interest he earns for the second year.
- the total amount due to him at the end of the third year.
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.
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.
On a certain sum of money, lent out at C.I., interests for first, second and third years are Rs. 1,500; Rs. 1,725 and Rs. 2,070 respectively. Find the rate of interest for the (i) second year (ii) third year.
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.
Calculate the compound interest for the second year on Rs. 15000 invested for 5 years at 6% per annum.
Calculate the difference between the compound interest and the simple interest on ₹ 7,500 in two years and at 8% per annum.
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 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?
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?
If the compound interest is calculated quarterly, the amount is found using the formula __________
Depreciation value is calculated by the formula, `"P"(1 - "r"/100)^"n"`
The present value of a machine is ₹ 16800. It depreciates at 25% p.a. Its worth after 2 years is ₹ 9450
In how many years will ₹ 3375 become ₹ 4096 at `13 1/3` p.a if the interest is compounded half-yearly?
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
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 ______.
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.
Find the difference between Compound Interest and Simple Interest on Rs 45,000 at 12% per annum for 5 years.
