Advertisements
Advertisements
Question
Calculate the amount and the compound interest on :
Rs. 6,000 in 3 years at 5% per year.
Advertisements
Solution
For 1st year,
P = Rs. 6,000; R = 5%, and T = 1 year
∴ Interest = Rs. `[6,000 xx 5 xx 1]/[ 100 ]` = Rs. 300.
And, amount = Rs. ( 6,000 + 300 ) = Rs. 6,300
For 2nd year,
P = Rs. 6,300; R = 5%, and T = 1 year
∴ Interest = Rs. `(6,300 xx 5 xx 1)/100` = Rs. 315
And, amount = Rs. ( 6,300 + 315 ) = Rs. 6,615
For 3rd year,
P = Rs. 6,615; R = 5% and T = 1 year
∴ Interest = Rs. `(6,615 xx 5 xx 1)/100` = Rs. 330.75
And, Amount = Rs. ( 6,615 + 330.75 ) = Rs. 6,945.75
∴ C.I. accrued = Final amount - Intitial Principal
= Rs. ( 6,945.75 - 6,000 )
= Rs. 945.75
APPEARS IN
RELATED QUESTIONS
Alisha invested Rs 75000 for 4 years at 8 % p.a. compound interest ,
Find the amount at the end of third year.
Alisha invested Rs 75000 for 4 years at 8 % p.a. compound interest,
Find the interest earned in the third year.
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 at the end of three years.
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.
Neha loaned Rs 27500 to a friend for 1 3/4 years at 8 % p.a. compound interest. Find the interest earned by her.
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.
On a certain sum of money, the difference between the compound interest for a year, payable half-yearly, and the simple interest for a year is Rs. 180/- Find the sum lent out, if the rate of interest in both the cases is 10% per annum.
A manufacturer estimates that his machine depreciates by 15% of its value at the beginning of the year. Find the original value (cost) of the machine, if it depreciates by Rs. 5,355 during the second year.
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.
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.
