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
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 7,128 in 2 years at compound interest, if the rates of interest are 8% and 10% for successive years?
The cost of a scooter depreciated by Rs 5100 during the second year and by Rs 4,335 during the third year. Calculate
the rate of depreciatlon
Ramesh borrowed Rs 12,000 at 15% compound interest for 2 years. At the end of the first year he returned some amount and on paying Rs 9,200 at the end of the second year, he cleared the loan. Calculate the amount of money Ramesh returned at the end of the first year.
What sum of money will amount to Rs 8,073 in 2 years at compound interest if the rates of interest for the successive years are 15% and 17%?
On what sum of money will the compound interest for 2 years at 8% per annum amount to Rs 1399.68?
Calculate the rate percent at which Rs 15,000 will yield Rs 8,413.44 as compound interest in 3 years.
In what time will Rs 8,000 amount to Rs 12,167 at 15% per annum compounded annually?
A sum of money placed at compound interest compounded annually amounts to Rs 47,610 in 2 years and to Rs 54,751.50 in 3 years. Calculate the rate of interest and the sum.
The S.I. and C.I. on a sum of money for 2 years is Rs. 200 and 210 respectively. If the rate of interest is the same. Find the sum and rate.
