Advertisements
Advertisements
Question
Calculate the amount and cornpound interest for the following, when cornpounded annually:
Rs 25,000 for 3 years at 8 % p.a.
Advertisements
Solution
Rs 25,000 for 3 years at 8 % p.a.
P=Rs 25,000; t=3 years; r=8 % p.a.
`"A" = "P" (1 + "r"/100)^"n"`
A = Rs 25000 `(1 + 8/100)^3`
= Rs 25, 000 x 1. 08 x 1.08 x 1. 08
= Rs 31,492.80
C.l .= A - P
= Rs (31,492.80 - 25, 000)
= Rs 6,492.80
Hence, Amount = Rs 31,492.80 and C.I. = Rs 6,492.80
RELATED QUESTIONS
If a, b, c are in continued proportion, prove that (a + b + c) (a – b + c) = a2 + b2 + c2
Alisha invested Rs 75000 for 4 years at 8 % p.a. compound interest ,
Find the amount at the end of the second year.
Aryan borrowed a sum or Rs. 36,000 for `1 1/2` years at 10 % p.a. compound interesL
Find he tol interest paid by him.
Gayatri invested Rs.25,OOO for 3 years and 6 months in a bank which paid
1O % p.a- compound interest. Calculate the amount to the nearest.Ts-10, that she
received at the end of the period.
Neena's savings increases by Rs 1,000 every year. If she saves Rs 4,000 in the first year and invests it at 15% compound interest, find her total savings at the end of the third year.
Rs.16,000 is invested at 5% compound interest compounded per annum. Use the table, given below, to find the amount in 4 years.
| Year ↓ |
Initial amount (Rs.) |
Interest (Rs.) |
Final amount (Rs.) |
| 1st | 16,000 | 800 | 16,800 |
| 2nd | ........... | ........... | ........... |
| 3rd | ........... | ........... | ........... |
| 4th | ........... | ........... | ........... |
| 5th | ........... | ........... | ........... |
Calculate the amount and the compound interest on:
Rs. 16,000 in 3 years, when the rates of the interest for successive years are 10%, 14% and 15% respectively.
Find the compound interest, correct to the nearest rupee, on Rs. 2,400 for `2 1/2` years at 5 per cent per annum.
Govind borrows Rs 18,000 at 10% simple interest. He immediately invests the money borrowed at 10% compound interest compounded half-yearly. How much money does Govind gain in one year?
The total number of industries in a particular portion of the country is approximately 1,600. If the government has decided to increase the number of industries in the area by 20% every year; find the approximate number of industries after 2 years.
