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 10000 for 1 year at 8% per annum compounded half yearly.
Simple interest on a sum of money for 2 years at \[6\frac{1}{2} %\] per annum is Rs 5200. What will be the compound interest on the sum at the same rate for the same period?
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 S.I. and C.I. on a certain sum of money for 2 years at 4% per annum is Rs 20. Find the sum.
The present population of a town is 28000. If it increases at the rate of 5% per annum, what will be its population after 2 years?
What sum will amount of Rs. 6,593.40 in 2 years at C.I. , if the rates are 10 per cent and 11 per cent for the two successive years ?
Saurabh invests Rs. 48,000 for 7 years at 10% per annum compound interest. Calculate:
(i) the interest for the first year.
(ii) the amount at the end of second year.
(iii) the interest for the third year.
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 present value of a machine is ₹ 16800. It depreciates at 25% p.a. Its worth after 2 years is ₹ 9450
In how many years will ₹ 3375 become ₹ 4096 at `13 1/3` p.a if the interest is compounded half-yearly?
