Advertisements
Advertisements
Question
Calculate the amount and the compound interest on:
Rs. 16,000 in 3 years, when the rates of the interest for successive years are 10%, 14% and 15% respectively.
Advertisements
Solution
For 1st year
P = Rs. 16000; R = 10%; T = 1 year
I = `[16000 xx 10 xx 1]/100`
I = Rs. 1600
A = 16000 + 1600 = 17600
For 2nd year,
P = Rs. 17600; R = 14%; T = 1 year
I = `[17600 xx 14 xx 1]/100 = 246400/100`
I = Rs. 2464.
A = 17600 + 2464 = Rs. 20064
For 3rd year,
P = Rs. 20064; R = 15%; T = 1 year
I = `[20064 xx 15 xx 1]/100`
I = 3009.60
Amount after 3 years = 20064 + 3009.60 = Rs. 23073.60
Compound interest = 23073.60 - 16000 = Rs. 7073.60
APPEARS IN
RELATED QUESTIONS
Calculate the amount and the compound interest for the following:
Rs.25, 000 at `8 2/5 %` p.a. in `1 1/3` years
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.
Calculate The Amount and the Cornpound Interest for the Following:
Rs 15,000 for 2 years at 6°/o for the first year and 7°/o for tl1e second year.
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.
Mohan invested a certain sum at compound interest, compounded annually. If the interests for two successive years were Rs 600 and Rs 648, calculate the rate of interest and the sum invested.
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.
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.
Meenal lends Rs. 75,000 at C.I. for 3 years. If the rate of interest for the first two years is 15% per year and for the third year it is 16%, calculate the sum Meenal will get at the end of the third year.
A man invests ₹ 5,600 at 14% per annum compound interest for 2 years. Calculate:
- the interest for the first year.
- the amount at the end of the first year.
- the interest for the second year, correct to the nearest rupee.
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?
