Calculate the Amount and the Compound Interest for the Following: - Mathematics

Sum

Calculate the amount and the compound interest for the following:

Rs 20,000 for 2 years if the rates of interest are 12 1/4 and 5 1/2 for the successive years.

Solution

P = Rs 20,000 ; t = 2 years ; r = 12 1/4 % and 5 1/2 % successively = 49/4% and 11/2 % successively.

"A" = "P" (1 + "r"/100)^"n"

A = Rs 20000 (1 + 49/(4 xx 100)) (1+ 11/(2 xx 100))

= Rs 20, 000 x 1. 1225 x 1. 055

=Rs 23,684.75

C.l. = A - P

= Rs (23,684.75 - 20, 000)

=Rs 3,684.75

Hence, Amount= Rs 23,684.75 and C.I. =Rs 3,684.75.

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APPEARS IN

Frank ICSE Class 10 Mathematics Part 2
Chapter 1 Compound Interest
Exercise 1.6 | Q 3.2 | Page 19