Advertisements
Advertisements
Question
Find the compound interest on ₹ 3200 at 2.5% p.a for 2 years, compounded annually
Advertisements
Solution
Principal (P) = ₹ 3200
r = 2.5% p.a
n = 2 years compound annually
∴ Amount (A) = `(1 + "r"/100)^"n"`
= `3200(1 + 25/100)^2`
= 3200 × (1.025)2
= 3362
Compound interest (C.I.) = Amount – Principal
= 3362 – 3200
= 162
APPEARS IN
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 10800 for 3 years at `12 1/2` % per annum compounded annually.
Kamala borrowed from Ratan a certain sum at a certain rate for two years simple interest. She lent this sum at the same rate to Hari for two years compound interest. At the end of two years she received Rs 210 as compound interest, but paid Rs 200 only as simple interest. Find the sum and the rate of interest.
A man borrows Rs.10,000 at 10% compound interest compounded yearly. At the end of each year, he pays back 30% of the sum borrowed. How much money is left unpaid just after the second year ?
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 ?
A sum of Rs. 8,000 is invested for 2 years at 10% per annum compound interest. Calculate:
(i) interest for the first year.
(ii) principal for the second year.
(iii) interest for the second year.
(iv) the final amount at the end of the second year
(v) compound interest earned in 2 years.
Calculate the compound interest for the second year on Rs. 15000 invested for 5 years at 6% per annum.
Rohit borrowed ₹ 40,000 for 2 years at 10% per annum C.I. and Manish borrowed the same sum for the same time at 10.5% per annum simple interest. Which of these two gets less interest and by how much?
Peter borrows ₹ 12,000 for 2 years at 10% p.a. compound interest. He repays ₹ 8,000 at the end of the first year. Find:
- the amount at the end of the first year, before making the repayment.
- the amount at the end of the first year, after making the repayment.
- the principal for the second year.
- the amount to be paid at the end of the second year, to clear the account.
The annual rate of growth in population of a town is 10%. If its present population is 26620, then the population 3 years ago was _________
Find the difference between Compound Interest and Simple Interest on Rs 45,000 at 12% per annum for 5 years.
