Advertisements
Advertisements
Question
Calculate the arnount and the cornpound interest for the following:
Rs 20,000 for 3 years at `7 1/2 %` for the first year, 8% for the second year and 10% for the third year.
Advertisements
Solution
P = Rs 20000;
(i) Interest for he first year
T = 1 year , R = `7 1/2 %` for first year = `15/2 %`
`= ("Rs" 20000 xx 15/2 xx 1)/100`
`= ("Rs" 20000 xx 15 xx 1)/ (2 xx 100)`
= Rs 1500
(ii) Principal for the second year
= Amount after one year
= Rs 20000 + Rs 1500
= Rs 21500
(iii) Interest for the second year
T = 1 year , R = 18 % for second year
`= ("Rs" 21500 xx 8 xx 1)/100`
= Rs 1720
(iv) Principal for the third year
= Amount after second year
= Rs 21500 + Rs 1720
= Rs 23220
(v) Interest for the third year
t = 1 year , R = 10 % for second year
`= ("Rs" 23220 xx 10 xx 1)/100`
= Rs 2322
Therefore Amount at the end of 3rd year
= Rs 23220 + Rs 2322
= Rs 25542
Amount = Rs 25542
C.I. = A - P
= Rs (25542 - 20000)
C.I. = Rs 5542
APPEARS IN
RELATED QUESTIONS
Calculate the amount and the compound interest for the following:
Rs. 7500 at 12% p.a. in 3 years.
Calculate the amount and the compound interest for the following:
Rs.20, 000 at9°/o p.a. in `2 1/3` years
A sum of Rs. 65000 is invested for 3 years at 8 % p.a. compound interest.
Find the sum due at the end of the second year.
A sum of Rs. 65000 is invested for 3 years at 8 % p.a. compound interest.
Find the compound interest earned in the first two years.
Aryan borrowed a sum or Rs. 36,000 for `1 1/2` years at 10 % p.a. compound interest.
Find the amount he needs to return to clear the debt.
Archana borrowed Rs 18,000 from Ritu at 12% p.a. compound interest. If at the end of the 1st, 2nd, and 3rd years, Archana returned Rs 5,250, Rs 5,875 and Rs 6,875 respectively, find the amount Archana has to pay Ritu at the end of the 4th year to clear her debt.
Calculate the amount and the compound interest on :
₹ 4,600 in 2 years when the rates of interest of successive years are 10%and 12% respectively.
A manufacturer estimates that his machine depreciates by 15% of its value at the beginning of the year. Find the original value (cost) of the machine, if it depreciates by Rs. 5,355 during the second year.
There is a continuous growth in population of a village at the rate of 5% per annum. If its present population is 9,261, what population was 3 years ago?
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1320 and for the third year is Rs. 1452. Calculate the rate of interest and the original sum of money.
