Advertisements
Advertisements
Question
Calculate the amount and compound interest on Rs 8000 for 1 year at 9% per annum compound half yearly. (You could use the year by year calculation using SI formula to verify)
Advertisements
Solution
Principal (P) = Rs 8000
Rate of interest = 9% per annum or `9/2` % per half year
Number of years = 1 year
There will be 2 half years in 1 year.
`A = P(1 + R/100)^n`
= `Rs [8000(1 + 9/200)^2]`
= Rs `[8000(209/200)^2] = Rs 8736.20`
C.I. = A − P = Rs 8736.20 − Rs 8000 = Rs 736.20
RELATED QUESTIONS
In what time will Rs 1000 amount to Rs 1331 at 10% per annum, compound interest?
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 |
Mohit invests Rs. 8,000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. 9,440. Calculate:
- the rate of interest per annum.
- the amount at the end of the second year.
- the interest accrued in the third year.
Calculate the amount and the compound interest on Rs. 10,000 in 3 years at 8% per annum.
Calculate the difference between the compound interest and the simple interest on ₹ 7,500 in two years and at 8% per annum.
The difference between simple interest and compound interest compounded annually on a certain sum is Rs.448 for 2 years at 8 percent per annum. Find the sum.
The compound interest on ₹ 16000 for 9 months at 20% p.a, compounded quarterly is ₹ 2522
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 ______.
The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually is ______.
