Advertisements
Advertisements
Question
Find the compound interest on Rs. 4,000 accrued in three years, when the rate of interest is 8% for the first year and 10% per year for the second and the third years.
Advertisements
Solution
Interest for the first year = `["P" xx "R" xx "T"]/100`
= `[ 4,000 xx 8 xx 1 ]/100`
= Rs. 3,20
Amount for the first year = Rs. 4,000 + Rs. 3,20 = Rs. 4,320
Interest for the second year = `["P" xx "R" xx "T"]/100`
= `[ 4,320 xx 10 xx 1]/100`
= Rs. 432
Amount for the second year = Rs. 4,320 + Rs. 432 = Rs. 4,752
Interest for the third year = `["P" xx "R" xx "T"]/100`
= `[4,752 xx 10 xx 1]/100`
= Rs. 475.20
Amount for the third year = Rs. 4,752 + Rs. 475.20 = Rs. 5,227.20
So, the compound interest = Rs. 5,227.20 - Rs. 4,000 = Rs. 1,227.20
Hence, the amount will get at the end of the third year is Rs. 1,227.20.
APPEARS IN
RELATED QUESTIONS
Calculate the amount and the compound interest for the following:
Rs.25, 000 at `8 2/5 %` p.a. in `1 1/3` years
Alisha invested Rs 75000 for 4 years at 8 % p.a. compound interest ,
Find the amount at the end of the second year.
Aryan borrowed a sum or Rs. 36,000 for `1 1/2` years at 10 % p.a. compound interesL
Find he tol interest paid by him.
Harijyot deposited Rs 27500 in a deposite scheme paying 12 % p.a. compound interest . If the duration of the deposite is 3 years , calculate :
The amount received by him at the end of three years.
Harijyot deposited Rs 27500 in a deposite scheme paying 12 % p.a. compound interest . If the duration of the deposite is 3 years , calculate :
The amount received by him had he chosen tlle duration of the deposit to be 2 years.
Prerna borrowed Rs.16000 from a friend at 15 % p.a. compound interest. Find the amount , to the nearest rupees, that she needs to return at the end of 2.4 years to clear the debt.
Calculate The Amount and the Cornpound Interest for the Following:
Rs 15,000 for 2 years at 6°/o for the first year and 7°/o for tl1e second year.
Find the sum invested at `12 1/2` p.a. compound interest on which the interest for the third year exceeds that of the first year by Rs 531.25.
Rs.16,000 is invested at 5% compound interest compounded per annum. Use the table, given below, to find the amount in 4 years.
| Year ↓ |
Initial amount (Rs.) |
Interest (Rs.) |
Final amount (Rs.) |
| 1st | 16,000 | 800 | 16,800 |
| 2nd | ........... | ........... | ........... |
| 3rd | ........... | ........... | ........... |
| 4th | ........... | ........... | ........... |
| 5th | ........... | ........... | ........... |
Calculate the amount and the compound interest on:
Rs. 8,000 in `2 1/2` years at 15% per year.
