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
In what time will Rs. 1500 yield Rs. 496.50 as compound interest at 10% per annum compounded annually?
The present population of the town is 2,00,000. The population is increased by 10% in the first year and 15% in the second year. Find the population of the town at the end of two years.
Calculate the amount and the compound interest for the following:
Rs.40, 000 at `5 1/4` % p.a. in `1 1/3` years
The value of a car depreciated by 10% in the first 2 years and by 8% in the third year. Express the total depreciation of the car as a single per cent during the three years.
The value of a machine, purchased two years ago, depreciates at the annual rate of 10%. If its present value is Rs.97,200, find:
- Its value after 2 years.
- Its value when it was purchased.
Rohit borrows Rs. 86,000 from Arun for two years at 5% per annum simple interest. He immediately lends out this money to Akshay at 5% compound interest compounded annually for the same period. Calculate Rohit's profit in the transaction at the end of two years.
The simple interest on a certain sum of money for 3 years at 5% per annum is Rs.1,200. Find the amount and the compound interest due on this sum of money at the same rate and after 2 years. Interest is reckoned annually.
Calculate the amount and compound interest on Rs 20000 for 3 years at 10% per annum, 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.
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?
