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
Jaya borrowed Rs. 50,000 for 2 years. The rates of interest for two successive years are 12% and 15% respectively. She repays 33,000 at the end of the first year. Find the amount she must pay at the end of the second year to clear her debt.
Calculate the amount and the compound interest for the following:
Rs.25, 000 at `8 2/5 %` p.a. in `1 1/3` years
A sum of Rs. 65000 is invested for 3 years at 8 % p.a. compound interest.
Find the sum due at the end of the second year.
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.
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.
Calculate the amount and the compound interest on:
Rs. 8,000 in `2 1/2` years at 15% per year.
A man lends Rs. 12,500 at 12% for the first year, at 15% for the second year and at 18% for the third year. If the rates of interest are compounded yearly ; find the difference between the C.I. fo the first year and the compound interest for the third year.
A sum of money is lent at 8% per annum compound interest. If the interest for the second year exceeds that for the first year by Rs. 96, find the sum of money.
A man borrows Rs. 6,000 at 5% C.I. per annum. If he repays Rs. 1,200 at the end of each year, find the amount of the loan outstanding at the beginning of the third year.
On a certain sum of money, the difference between the compound interest for a year, payable half-yearly, and the simple interest for a year is Rs. 180/- Find the sum lent out, if the rate of interest in both the cases is 10% per annum.
