Advertisements
Advertisements
Question
Calculate the amount and cornpound interest for the following, when cornpounded annually:
Rs 16,000 for 3 years at `7 1/2` % p.a.
Advertisements
Solution
Rs 16,000 for 3 years at `7 1/2` p.a.
P=Rs 16,000 ; t = 3 years ; r = `7 1/2` p.a.
`"A" = "P" (1 + "r"/100)^"n"`
A = Rs `16000 (1 + 15/(2 xx 100))^3`
= Rs 16, 000 × 1.07 5 × 1.075 × 1.075
= Rs 19,876. 75
C.l.= A - P
= Rs (19,876.75- 16,000)
= Rs 3,876. 75
Hence, Amount= Rs 19,876.75 and C.I. =Rs 3,876.75
RELATED QUESTIONS
Shekhar had a fixed deposit of Rs 24000 for 3 years . If he received interest at 10% p.a compounded annually, find the amount received by him at the time of maturity.
Pradeep gave Rs.16000 to a friend for 1.5 years at 15% p.a. compounded semi-annually. Find the interest earned by him at the end of 1.5 years.
What sum of money will amount to Rs 3,326.40 in 3 years at compound interest, if the rates of interest are 8%, 10% and 12% for the successive years?
The interests on two successive years for a sum invested at compound interest compounded annually are Rs 840 and Rs 940.80. Calculate the rate of interest and the sum invested.
Calculate the amount and the compound interest for the following:
Rs 12,500 for 3 years if the rates for the successive years are 8%, 9% and 10% respectively.
On what sum of money will the compound interest for `2 1/2` years at `12 1/2`% per annum amount to Rs 82,734.37?
On what sum of money will the compound interest for `1 1/2` years at 16% p.a. compounded half-yearly amount to Rs 649.28?
In what time will Rs 50,000 yield an interest of Rs 32,151.60 at 18% per annum interest compounded annually?
A sum of money placed at compound interest compounded annually amounts to Rs 26,460 in 2 years and to Rs 29,172.15 in 4 years. Calculate the rate of interest and the sum.
The compound interest on a certain sum of money at 5% p.a. for 2 years is Rs 512.50. What will be the simple interest on the same sum for 3 years at 6% p.a.?
