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.
What will Rs 125000 amount to at the rate of 6%, if the interest is calculated after every 3 months?
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?
In how many years ₹ 700 will amount to ₹ 847 at a compound interest rate of 10 p.c.p.a.
A man borrows Rs.10,000 at 10% compound interest compounded yearly. At the end of each year, he pays back 20% of the amount for that year. How much money is left unpaid just after the second year ?
Calculate the difference between the compound interest and the simple interest on ₹ 8,000 in three years and at 10% per annum.
The compound interest on ₹ 8000 at 10% p.a for 1 year, compounded half yearly is ____________
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 ___________
Depreciation value is calculated by the formula, `"P"(1 - "r"/100)^"n"`
In how many years will ₹ 3375 become ₹ 4096 at `13 1/3` p.a if the interest is compounded half-yearly?
