Advertisements
Advertisements
Question
Find the compound interest for `2 1/2` years on ₹ 4000 at 10% p.a, if the interest is compounded yearly
Advertisements
Solution
Principal (P) = ₹ 4000
r = 10% p.a
Compounded yearly
n = `2 1/2` years.
Since it is of the form `"a" "b"/"c"` years
Amount (A) = `(1 + "r"/100)^"n" (1 + ("b"/"c" xx "r")/100)`
= `4000(1 + 10/100)^2 (1 + (1/2 xx 10)/100)^1`
= `4000 xx (110/100)^2 xx (105/100)^1`
= 4000 × 1.1 × 1.1 × 1.05
= 5082
∴ C.I. = Amount – Principal
= 5082 – 4000
= 1082
APPEARS IN
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 62500 for `1 1/2` years at 8% per annum compounded half yearly.
Find the difference between the compound interest and simple interest. On a sum of Rs 50,000 at 10% per annum for 2 years.
A certain sum amounts to Rs. 5,292 in two years and Rs. 5,556.60 in three years, interest being compounded annually. Find : the rate of interest.
On a certain sum of money, lent out at C.I., interests for first, second and third years are Rs. 1,500; Rs. 1,725 and Rs. 2,070 respectively. Find the rate of interest for the (i) second year (ii) third year.
A man invests Rs. 9600 at 10% per annum compound interest for 3 years. Calculate :
(i) the interest for the first year.
(ii) the amount at the end of the first year.
(iii) the interest for the second year.
(iv) the interest for the third year. the interest for the first year.
The compound interest on ₹ 16000 for 9 months at 20% p.a, compounded quarterly is ₹ 2522
The cost of a machine is ₹ 18000 and it depreciates at `16 2/3 %` annually. Its value after 2 years will be ___________
The sum which amounts to ₹ 2662 at 10% p.a in 3 years, compounded yearly is _________
Find the rate of compound interest at which a principal becomes 1.69 times itself in 2 years
Suppose a certain sum doubles in 2 years at r % rate of simple interest per annum or at R% rate of interest per annum compounded annually. We have ______.
