Advertisements
Advertisements
Question
Find the amount and the compound interest.
| No. | Principal (₹) | Rate (p.c.p.a.) | Duration (Years) |
| 1 | 2000 | 5 | 2 |
| 2 | 5000 | 8 | 3 |
| 3 | 4000 | 7.5 | 2 |
Advertisements
Solution
(1) Here, P = ₹ 2000; R = 5 %; N = 2 years
A = P`( 1 + "R"/100)^"N"`
= 2000 `(1 + 5/100)^2`
= 2000`((100+5)/100)^2`
= `2000(105/100)^2`
= `2000(105/100) xx(105/100)`
= 2000 `(21/20)^2`
= 2205 Rupees
Compound interest after 2 years,
I = Amount - Principal
= 2205 - 2000
= 205 Rupees
Hence, Amount = ₹ 2205 and compound interest = ₹205.
(2) Here, P = ₹ 5000; R = 8 %; N = 3 years
A = P `( 1 + "R"/100)^"N"`
= 5000 `(1 + 8/100)^3`
= 5000 `(108/100) xx(108/100) xx(108/100) `
= `(108 xx 108 xx54)/100`
= `629856/100`
= 6298.56 Rupees
∴ Compound interest after 3 years,
I = Amount - Principal
= 6298.56 - 5000
= 1298.56 Rupees
Hence, Amount = ₹ 6298.56 and compound interest = ₹1298.56
(3) Here, P = ₹ 4000; R = 7.5 % ; N = 2 years
A = P `( 1 + "R"/100)^"N"`
= 4000 `(1 + 7.5/100)^2`
= 4000 `(1 +75/1000)^2`
= 4000 `(1075/1000)xx(1075/1000)`
= `(4xx1075xx1075)/1000`
= `4622500/1000`
A = 4622.5 Rupees
∴ Compound interest after 2 years,
I = Amount - Principal
= 4622.5 - 4000
= 622.5 Rupees
Hence, Amount = ₹ 4622.5 and compound interest = ₹ 622.5
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 8000 for 1 year at 9% per annum compound half yearly. (You could use the year by year calculation using SI formula to verify)
Rachana borrowed a certain sum at the rate of 15% per annum. If she paid at the end of two years Rs 1290 as interest compounded annually, find the sum she borrowed.
The difference between the compound interest and simple interest on a certain sum for 2 years at 7.5% per annum is Rs 360. Find the sum.
The cost of a machine depreciated by Rs. 4,000 during the first year and by Rs. 3,600 during the second year. Calculate :
- The rate of depreciation.
- The original cost of the machine.
- Its cost at the end of the third year.
The value of a machine depreciated by 10% per year during the first two years and 15% per year during the third year. Express the total depreciation of the machine, as percent, during the three years.
Find the sum on which the difference between the simple interest and compound interest at the rate of 8% per annum compounded annually would be Rs. 64 in 2 years.
The simple interest on a certain sum of money at 4% p.a. for 2 years is Rs1500. What will be the compound interest on the same sum for the same time?
The difference between the C.I and S.I for 2 years for a principal of ₹ 5000 at the rate of interest 8% p.a is ___________
Find the C.I. on ₹ 15000 for 3 years if the rates of interest are 15%, 20% and 25% for the I, II and III years respectively
Find the difference between Compound Interest and Simple Interest on Rs 45,000 at 12% per annum for 5 years.
