Advertisements
Advertisements
Question
Daljit received a sum of Rs. 40000 as a loan from a finance company. If the rate of interest is 7% per annum compounded annually, calculate the compound interest that Daljit pays after 2 years.
Advertisements
Solution
\[ = 40, 000 \left( 1 + \frac{7}{100} \right)^2 \]
\[ = 40, 000 \left( 1 . 07 \right)^2 \]
= 45, 796
Thus, the required amount is Rs 45, 796.
Now,
CI = A - P
= Rs 45, 796 - Rs 40, 000
= Rs 5, 796
RELATED QUESTIONS
Maria invested Rs 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find.
1) The amount credited against her name at the end of the second year
2) The interest for the 3rd year.
Rakesh lent out Rs 10000 for 2 years at 20% per annum, compounded annually. How much more he could earn if the interest be compounded half-yearly?
Find the amount that David would receive if he invests Rs 8192 for 18 months at \[12\frac{1}{2} \%\] per annum, the interest being compounded half-yearly.
A sum of money was lent for 2 years at 20% compounded annually. If the interest is payable half-yearly instead of yearly, then the interest is Rs 482 more. Find the sum.
A sum amounts to Rs 756.25 at 10% per annum in 2 years, compounded annually. Find the sum.
Find the rate percent per annum if Rs 2000 amount to Rs 2662 in \[1\frac{1}{2}\] years, interest being compounded half-yearly?
When principal P is compounded semi-annually at r % per annum for t years, then amount ______.
If principal = Rs 1,00,000, rate of interest = 10% compounded half yearly. Find
- Interest for 6 months.
- Amount after 6 months.
- Interest for next 6 months.
- Amount after one year.
If principal = Rs 1,00,000. rate of interest = 10% compounded half yearly. Find interest for next 6 months.
If principal = Rs 1,00,000. rate of interest = 10% compounded half-yearly. Find amount after one year.
