Advertisements
Advertisements
Question
At what rate of interest per annum will a sum of Rs. 62,500 earn a compound interest of Rs. 5,100 in one year? The interest is to be compounded half yearly.
Advertisements
Solution
r = ? P = 62,500 C.I = A - P = 5100
A = 5100 + 62500
= 67,600
A = P`(1+ r/200)^(2n)`
`67600 = 62500 (1 + r/200)^2`
= `(1 + r/(200 ))^(2) = [67,600]/[62,500]`
= `(26/25)^2`
= `1 + r/200 = 26/25`
= `r/200 = 26/25 -1`
= `1/5`
`r =200/25`
= 8%
= r = 8
The rate of interest is 8%.
APPEARS IN
RELATED QUESTIONS
If the interest is compounded half-yearly, calculate the amount when principal is Rs. 7,400; the rate of interest is 5% per annum and the duration is one year.
What sum of money will amount to Rs. 27,783 in one and a half years at 10% per annum compounded half yearly?
Ashok invests a certain sum of money at 20% per annum, compounded yearly. Geeta invests an equal amount of money at the same rate of interest per annum compounded half-yearly. If Geeta gets Rs. 33 more than Ashok in 18 months, calculate the money invested.
Calculate the C.I. on Rs. 3,500 at 6% per annum for 3 years, the interest being compounded half-yearly.
Do not use mathematical tables. Use the necessary information from the following:
(1.06)3 = 1.191016; (1.03)3 = 1.092727
(1.06)6 =1.418519; (1.03)6 = 1.194052
A man borrows ₹ 4000 at 14% p.a., compound interest, being payable half-yearly. Find the amount he has to pay at the end of 1`(1)/(2)` years.
Calculate the amount and compound interest to the nearest rupee on Rs 42000 for 2 years at 8% per annum, interest being payable half-yearly.
Simple interest on a sum of money for 2 years at 4% is Rs 450. Find the compound interest at the same rate for 1 year if the interest is reckoned half-yearly.
A man borrows Rs.6500 at 10% per annum compound interest payable half-yearly. He repays Rs.2000 at the end of every six months. Calculate the amount outstanding at the end of the third payment. Give your answer to the nearest rupee.
Find the amount and the compound interest on the following :
Rs.15000 for 2years at 8% per annum compounded semi-annually.
Find the amount and compound interest on Rs.50000 on 1`(1)/(2)` years at 8% p.a. compounded half-yearly.
