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
Jaya borrowed Rs. 50,000 for 2 years. The rates of interest for two successive years are 12% and 15% respectively. She repays 33,000 at the end of the first year. Find the amount she must pay at the end of the second year to clear her debt.
Mr Kumar borrowed Rs. 15000 for two years. The rates of interest for two successive years are 8% and 10% respectively. If he repays Rs. 6200 at the end of the first year, find the outstanding amount at the end of the second year.
Calculate the amount and the compound interest for the following:
Rs.25, 000 at `8 2/5 %` p.a. in `1 1/3` years
Aryan borrowed a sum or Rs. 36,000 for `1 1/2` years at 10 % p.a. compound interesL
Find he tol interest paid by him.
Gayatri invested Rs.25,OOO for 3 years and 6 months in a bank which paid
1O % p.a- compound interest. Calculate the amount to the nearest.Ts-10, that she
received at the end of the period.
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.
Ramesh saves Rs 4,000 every year and invests it at 10% p.a. compound interest. Calculate his savings at the end of the third year.
Calculate the amount and cornpound interest for the following, when cornpounded annually:
Rs 25,000 for 3 years at 8 % p.a.
Calculate the difference between the simple interest and the compound interest on Rs. 4,000 in 2 years at 8% per annum compounded yearly.
A man lends Rs. 12,500 at 12% for the first year, at 15% for the second year and at 18% for the third year. If the rates of interest are compounded yearly ; find the difference between the C.I. fo the first year and the compound interest for the third year.
