Advertisements
Advertisements
Question
A sum of Rs. 8,000 is invested for 2 years at 10% per annum compound interest. Calculate:
(i) interest for the first year.
(ii) principal for the second year.
(iii) interest for the second year.
(iv) the final amount at the end of the second year
(v) compound interest earned in 2 years.
Advertisements
Solution
(i) Here Principal (P) = Rs. 8,000
Rate of interest = 10%
Interest for the first year =`(8,000xx10xx1)/100`
= Rs.800
(ii) ∴ Amount = Rs.8,000 + Rs.800 = Rs.8,800
Thus Principal for the second year = Rs.8,800
(iii) Interest for the second year
`=(8,800xx10xx1)/100`
= Rs.880
(iv) Amount at the end of second year = Rs.8,800 + Rs.880 = Rs.9,680
(v) Hence compound interest earned in 2 years
= Rs.9,680 − Rs.8,000 = Rs.1680
APPEARS IN
RELATED QUESTIONS
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?
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.
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 ?
Rachna borrows Rs. 12,000 at 10 percent per annum interest compounded half-yearly. She repays Rs. 4,000 at the end of every six months. Calculate the third payment she has to make at end of 18 months in order to clear the entire loan.
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.
Calculate the compound interest on Rs. 5,000 in 2 years; if the rates of interest for successive years be 10% and 12% 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.
Calculate the compound interest for the second year on Rs. 15000 invested for 5 years at 6% per annum.
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 ______.
