Advertisements
Advertisements
Question
Find the amount and the compound interest on the following :
Rs.25000 for 2 years at 6% per annum compounded semi-annually.
Advertisements
Solution
Rs.25000 for 2 years at 6% per annum compounded semi-annually.
Here P = Rs.25000, t = 2 years, r = 6%
Since interest is compounded semi-annually, so
Amount
= `"P"(1 + "r"/200)^(2"t")`
= `25000(1 + 6/200)^4`
= `25000(103/100)^4`
= 28137.72
Hence, Amount = Rs.28137.72
Also, C.I.
= A - P
= Rs.28137.72 - Rs.25000
= Rs.3137.72.
APPEARS IN
RELATED QUESTIONS
If the interest is compounded half-yearly, calculate the amount when principal is Rs. 7,400; the rate of interest is 5% per annum and the duration is one year.
Find the difference between the compound interest compounded yearly and half-yearly on Rs. 10,000 for 18 months at 10% per annum.
At what rate of interest per annum will a sum of Rs. 62,500 earn a compound interest of Rs. 5,100 in one year? The interest is to be compounded half yearly.
Calculate the C.I. on Rs. 3,500 at 6% per annum for 3 years, the interest being compounded half-yearly.
Do not use mathematical tables. Use the necessary information from the following:
(1.06)3 = 1.191016; (1.03)3 = 1.092727
(1.06)6 =1.418519; (1.03)6 = 1.194052
Find the difference between compound interest and simple interest on Rs.12,000 and in `1 1/2` years at 10% compounded yearly.
Find the difference between compound interest and simple interest on Rs. 12,000 and in `1 1/2` years at 10% compounded half-yearly.
A man borrows ₹ 4000 at 14% p.a., compound interest, being payable half-yearly. Find the amount he has to pay at the end of 1`(1)/(2)` years.
A man lends Rs 15000 at 10.5% per annum C.I., interest reckoned yearly, and another man lends the same sum at 10% per annum, interest being reckoned half-yearly. Who is the gainer at the end of one year and by how much?
A man borrows Rs.6500 at 10% per annum compound interest payable half-yearly. He repays Rs.2000 at the end of every six months. Calculate the amount outstanding at the end of the third payment. Give your answer to the nearest rupee.
Find the amount and the compound interest on the following :
Rs.15000 for 2years at 8% per annum compounded semi-annually.
