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.22, 500 at 12 °/o p.a. in `1 3/4` years
The value of a machine depreciates by 10%, 12% and 15% in the first 3 years. Express the total depreciation of the machine as a single per cent during the three years.
The value of a scooter depreciates by 12% of its value at the beginning of the year. Find the original value of the scooter if it depreciated by Rs 2,640 in the second year.
The value of a refrigerator depreciates by 8% of its value at the beginning of the year. Find the original value of the refrigerator if it depreciated by Rs 2,392 in the second year.
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.
Compute the compound interest for the third year on Rs. 5000 invested for 5 years at 10% per annum, the interest being payable annually.
A man invests Rs 24000 for two years at compound interest, If his money amounts to Rs 27600 after one year, find the amount at the end of second year.
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.
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.
