Advertisements
Advertisements
Question
Find the difference betlween the compound interest compounded yearly and half-yearly for the following:
Rs 15,000 for `1 1/2` years at 12 % p.a.
Advertisements
Solution
P=Rs 15,000 ; t = `1 1/2` years
When compounded yearly : r = 12 % p.a.
`"A" = "P" (1 + "r"/100)^"n"`
A = Rs `15000 (1 + 12/100)(1 + 12/100)^(1/2)`
= Rs 15000 x 1.12 x `(1 + 1/2 xx 12/100)`
= Rs15,000 x 1.12 x 1.06
= Rs 17,808
C.l. = A - P
= Rs (17,808 -15,000)
= Rs 2808
When compounded half-yearly :
`"A" = "P" (1 + "r"/100)^"n"`
A = Rs 15000 `(1 + 6/100)^3`
= Rs 15,000 x 1.06 x 1.06 x 1.06
= Rs 17,865.24
C.l. = A - P
= Rs (17,865.24 - 15,000)
= Rs2,865.24
Hence the difference in the interest=Rs (2,865.24 - 2,808) =Rs 57.24
APPEARS IN
RELATED QUESTIONS
Calculate the amount and the compound interest for the following, when cornpounded half-yearly:
Rs 6,000 for `1 1/2` years at 10 % p.a.
Calculate the amount and the compound interest for the following:
Rs 20,000 for 2 years if the rates of interest are `12 1/4` and `5 1/2` for the successive years.
Find the difference between the compound interest compounded yearly and half-yearly for the following:
Rs 20,000 for `1 1/2` years at 16 % p.a.
On what sum will the difference between compound interest and the simple interest for 2 years at `7 1/2` % be Rs 22.50 ?
The population of a city is 1, 25,000. If the annual birth rate and death rate are 5.5% and 3.5% respectively, calculate the population of the city after 3 years.
A machine was purchased 2 years ago. Its value decreases by 10% every year. Its present value is Rs 19,083.60. For how much money was the machine purchased?
The population of a city is 24,000. In the next 3 years it will be 27,783. Find the rate of growth of the population.
The value of a property decreases every year at the rate of 5%. If its value at the end of 3 years be Rs 44,540, what was the original value at the beginning of these 3 years?
The cost of a T.V. was quoted Rs 17,000 at the beginning of the year 1999. In the beginning of 2000 the price was hiked by 5%. Because of decrease in demand the cost was reduced by 4% in the beginning of 2001. What is the cost of the T.V. in 2001?
A mango tree was planted 3 years ago. The rate of growth is 20% per annum. If at present, the height of the tree is 1 m 8 cm, how high was it when planted?
