Advertisements
Advertisements
Question
Calculate the amount and the compound interest on Rs. 12,000 in 2 years and at 10% per year.
Advertisements
Solution
For Ist year
Principal (P) = Rs.12,000
Rate (R) = 10%
Time (T) = 1 year
I = Interest =`(12,000xx10xx1)/100`
= 120 × 10
= Rs.1200
Amount = P + I = Rs.12,000 + Rs.1200 = Rs.13,200
For IInd year
P = Rs.13,200, R = 10%, Time (T) = 1 year
∴ Interest =`(13,200xx10xx1)/100` = 132 × 10
= Rs.1320
∴ Amount in 2 years = Rs. (13,200) + (1320)
= Rs.14520
Compound interest in 2 years = Rs.1200 + Rs.1320 = Rs.2520
[or directly = Rs.14520 − Rs.12000 = Rs.2520]
APPEARS IN
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 10000 for 1 year at 8% per annum compounded half yearly.
Rachana borrowed a certain sum at the rate of 15% per annum. If she paid at the end of two years Rs 1290 as interest compounded annually, find the sum she borrowed.
The present population of a town is 28000. If it increases at the rate of 5% per annum, what will be its population after 2 years?
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1,089 and for the third year it is Rs. 1,197.90. Calculate the rate of interest and the sum of money.
Rachna borrows Rs. 12,000 at 10 percent per annum interest compounded half-yearly. She repays Rs. 4,000 at the end of every six months. Calculate the third payment she has to make at end of 18 months in order to clear the entire loan.
Rekha borrowed Rs. 40,000 for 3 years at 10% per annum compound interest. Calculate the interest paid by her for the second year.
The simple interest on a certain sum of money at 4% p.a. for 2 years is Rs1500. What will be the compound interest on the same sum for the same time?
Find the compound interest on ₹ 3200 at 2.5% p.a for 2 years, compounded annually
A principal becomes ₹ 2028 in 2 years at 4% p.a compound interest. Find the principal
The cost of a machine is ₹ 18000 and it depreciates at `16 2/3 %` annually. Its value after 2 years will be ___________
