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
RELATED QUESTIONS
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.
Harijyot deposited Rs 27500 in a deposite scheme paying 12 % p.a. compound interest . If the duration of the deposite is 3 years , calculate :
The amount received by him had he chosen tlle duration of the deposit to be 2 years.
Prerna borrowed Rs.16000 from a friend at 15 % p.a. compound interest. Find the amount , to the nearest rupees, that she needs to return at the end of 2.4 years to clear the debt.
Meera borrowed Rs 12,500 on compound interest from Rajeev for 2 years when the rates of interest for successive years were 8% and 10%. If Meera returned Rs 7,500 at the end of the first year, find the amount she has to return at the end of the second year.
Find the sum invested at 8% p.a. compound interest on which the interest for the third year exceeds that of the first year by Rs 166.40.
A man saves Rs. 3,000 every year and invests it at the end of the year at 10% compound interest. Calculate the total amount of his savings at the end of the third years.
6000 workers were employed to construct a river bridge in four years. At the end of first year, 20% workers were retrenched; At the end of second year 5% of the workers at that time were retrenched. However, to complete the project in time, the number of workers was increased by 15% at the end of third year. How many workers were working during the fourth year?
Mr. Kumar borrowed Rs. 15,000 for two years. The rate of interest for the two successive years are 8% and 10% respectively. If he repays Rs. 6,200 at the end of the first year, find the outstanding amount at the end of the second year.
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.
