Advertisements
Advertisements
Question
Calculate the amount and the compound interest for the following:
Rs.40, 000 at `5 1/4` % p.a. in `1 1/3` years
Advertisements
Solution
Here, P = Rs.40, 000; r = `5 1/4`% p.a. = `21/4` % ; t = `1 1/3` years
For the first year: t = 1 year
S.I. = `("P" xx "r" xx "t")/100`
S.I. `("Rs" 40000 xx 21 xx 1)/(100 xx 4)`
S.I. = Rs2, 100
A=P+S.I.
=Rs ( 40,000 + 2, 100) = Rs 42, 100 = new principal
For the second year: t = 1/3 year; P=Rs 42, 100
S.I. = `("P" xx "r" xx "t")/100`
S.I. `("Rs" 42100 xx 21 xx 1)/(100 xx 4 xx 3)`
S.I. = Rs736. 75
A=P+S.I.
A=Rs ( 42, 100 + 736.75) =Rs 42,836.75
C.I. = Interest in first year +interest in second year
C.I.= Rs (2, 100 + 736.75) =Rs 2,836.75
APPEARS IN
RELATED QUESTIONS
The present population of the town is 2,00,000. The population is increased by 10% in the first year and 15% in the second year. Find the population of the town at the end of two years.
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1320 and for the third year is Rs. 1452. Calculate the rate of interest and the original sum of money
Calculate the amount and the compound interest for the following:
Rs.10,000 at 8°/o p.a. in `2 1/4` years
The value of a car depreciated by 10% in the first 2 years and by 8% in the third year. Express the total depreciation of the car as a single per cent during the three years.
Simple interest on a sum of money for 2 years at 4% is Rs. 450. Find compound interest on the same sum and at the same rate for 1 year, if the interest is reckoned half yearly.
The value of a machine, purchased two years ago, depreciates at the annual rate of 10%. If its present value is Rs.97,200, find:
- Its value after 2 years.
- Its value when it was purchased.
A sum of money was invested for 3 years, interest being compounded annually. The rates for successive years were 10%, 15% and 18% respectively. If the compound interest for the second year amounted to Rs. 4,950, find the sum invested.
The simple interest on a certain sum of money for 3 years at 5% per annum is Rs.1,200. Find the amount and the compound interest due on this sum of money at the same rate and after 2 years. Interest is reckoned annually.
Compute the compound interest for the third year on Rs. 5000 invested for 5 years at 10% per annum, the interest being payable annually.
A man borrows Rs.20000 at 10% per annum compound interest payable annually. If he repays Rs.5000 at the end of the first year and Rs.10000 at the end of the second year; how much should he pay at the end of the third year in order to clear the account? Find the answer correct to the nearest rupee.
