Advertisements
Advertisements
Question
Calculate the sum of money on which the compound interest (payable annually) for 2 years be four times the simple interest on Rs. 4,715 for 5 years, both at the rate of 5% per annum.
Advertisements
Solution
Given : Principal = Rs.4,715; time = 5 years and rate= 5% p.a.
∴ S.I. = `[ "P" xx "R" xx "T" ]/100 = [ 4715 xx 5 xx 5 ]/100 = Rs. 1,178.75`
Then C.I. = Rs.1,178.75 x 4 = Rs. 4,715
Time = 2 years and rate = 5%
∴ C.I. = P`[( 1 + r/100)^n - 1 ]`
⇒ 4,715 = P`[( 1 + 5/100)^2 - 1 ]`
⇒ 4,715 = P`[41/400]`
⇒ P = Rs. `[ 4,715 xx 400 ]/41` = Rs. 46,000.
APPEARS IN
RELATED QUESTIONS
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1320 and for the third year is Rs. 1452. Calculate the rate of interest and the original sum of money
Calculate the amount and the compound interest for the following:
Rs.30,000 at 8°/o p.a. in `2 1/2` years
A certain sum of money invested at compound interest compounded annually amounted to Rs 26,450 in 2 years and to Rs 30,417.50 in 3 years. Calculate the rate of interest and the sum invested.
Anuj and Rajesh each lent the same sum of money for 2 years at 8% simple interest and compound interest respectively. Rajesh received Rs. 64 more than Anuj. Find the money lent by each and interest received.
Calculate the amount and compound interest on Rs 20000 for 3 years at 10% per annum, interest being payable annually.
How much will Rs 14000 amounts to 2 years at compound interest, if the rates for the successive years be 5% and 8% respectively?
Find the amount and the compound interest on Rs 17500 for 3 years, if the rates for successive years is 4%, 5% and 6% respectively, the interest is payable annually.
What sum will amount to Rs.10120 in 2 years at C.I. payable annually, if the rates are 10% and 15% for the successive years?
How much will Rs 25000 amount to in 2 years at compound interest, if the rates for 1st and 2nd years be 4% and 5% p.a. respectively?
Find compound interest on Rs 31250 for 3 years, if the rates of interest for 1st,2nd and 3rd years be 8%, 10% and 12% respectively.
