Advertisements
Advertisements
Question
Calculate the amount and cornpound interest of the following, when cornpounded annually:
Rs 20,000 for 2 years at `12 1/2` % p.a.
Advertisements
Solution
Rs 20,000 for 2 years at `12 1/2` % p.a.
P=Rs 20,000 ; t = 2 years ; r = `12 1/2` p.a.
`"A" = "P" (1 + "r"/100)^"n"`
A= Rs 20, 000 `(1 + 25/(2 xx 100))^2`
= Rs 20, 000 x 1. 125 x 1. 125
= Rs 25,312.50
C.I. = A - P
= Rs (25,312.50- 20,000)
= Rs 5,312.50
Hence, Amount= Rs 25,312.50 and C.I. =Rs 5,312.50
APPEARS IN
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.
Prashant borrowe Rs. 35000 at 12% p.a. compounded semi-annually. Find the amount he needs to pay back at the end of `1 1/2` years
What sum of money will amount to Rs 16,637.50 in 3 years at 10 % p.a. compound interest?
What sum of money will amount to Rs 13,675.20 in 3 years at compound interest, if the rates of interest are 10%, 11% and 12% for the successive years?
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.
The simple interest on an amount for 2 years at 8% is Rs 320. Calculate the compound interest on the same amount at the same rate for 1 year if the interest is compounded half-yearly.
Find the principal which will amount to Rs 22,344 in 2 years at compound interest if the rates of interest for the successive years are 12% and 14%?
What sum of money will amount to Rs 18, 792 in `1 1/2` years at 16% p.a. compounded yearly?
On what sum of money will the compound interest for 2 years at 10% p.a. compounded half-yearly amount to Rs 3,448.10?
In how many years will Rs. 15,625 amount to Rs. 17,576 at 4% p.a., compound interest?
