Advertisements
Advertisements
Question
Calculate the rate per cent at which Rs 16,000 will yield Rs 3,876.75 as compound interest in 3 years.
Advertisements
Solution
P = Rs 16,000; A = Rs (16,000+3,876.75) = Rs 19,876.75 ; t = 3 years ; r = ?
`"A" = "P" (1 + "r"/100)^"n"`
Rs 19,876.75 = Rs 16,000 `(1 + "r"/100)^3`
`19876.75/16000 = (1 + "r"/100)^3`
`(27.08)^3/(25.19)^3 = (1 + "r"/100)^3`
`2708/2519 = 1 + "r"/100`
`"r"/100 = 2708/2519 - 1 = (2708 - 2519)/2519 = 189/2519`
`"r" = 18900/2519 = 7.5 %`
Hence , r = 7.5%
RELATED QUESTIONS
Amita wanted to start a business for which she needed Rs, 40000. She borrowed this from Dolly at 10% p.a compounded semi-annually. Find the extra amount that she needs to pay at the end of two years to clear her debt.
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
The cost of a machine depreciated by Rs 2592 during the third year and by Rs 2332.80 during the fourth year. Calculate :
The rate of depreciation.
The cost of a machine depreciated by Rs 2592 during the third year and by Rs 2332.80 during the fourth year. Calculate :
The original cost.
Calculate the amount and cornpound interest for the following, when cornpounded annually:
Rs 16,000 for 3 years at `7 1/2` % p.a.
Calculate the amount and cornpound interest of the following, when cornpounded annually:
Rs 20,000 for 2 years at `12 1/2` % p.a.
In what time will Rs 8,000 amount to Rs 12,167 at 15% per annum compounded annually?
In what time will Rs 50,000 yield an interest of Rs 32,151.60 at 18% per annum interest compounded annually?
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.
