Advertisements
Advertisements
Question
Find the sum, invested at 10% compounded annually, on which the interest for the third year exceeds the interest of the first year by Rs. 252.
Advertisements
Solution
Let the sum of money be Rs.100.
Rate of interest = 10% p.a.
Interest at the end of 1st year = 10% of Rs. 100 = Rs. 10
Amount at the end of 1st year = Rs. 100 + Rs. 10 = Rs. 110
Interest at the end of 2nd year = 10% of Rs. 110 = Rs. 11
Amount at the end of 2nd year = Rs. 110 + Rs. 11 = Rs.121
Interest at the end of 3rd year =10% of Rs. 121= Rs. 12.10
Difference between interest of 3rd year and 1st year
= Rs. 12.10 - Rs. 10 = Rs. 2.10
When difference is Rs. 2.10, principal is Rs. 100
When difference is Rs. 252, principal = `[100 xx 252]/2.10` = Rs.12,000.
APPEARS IN
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 10000 for 1 year at 8% per annum compounded half yearly.
Find the compound interest at the rate of 5% per annum for 3 years on that principal which in 3 years at the rate of 5% per annum gives Rs 1200 as simple interest.
The interest on a sum of Rs 2000 is being compounded annually at the rate of 4% per annum. Find the period for which the compound interest is Rs 163.20.
In what time will Rs 1000 amount to Rs 1331 at 10% per annum, compound interest?
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.
The difference between the compound interest and simple interest on a certain sum for 2 years at 7.5% per annum is Rs 360. Find the sum.
The difference in simple interest and compound interest on a certain sum of money at \[6\frac{2}{3} %\] per annum for 3 years is Rs 46. Determine the sum.
In how many years ₹ 700 will amount to ₹ 847 at a compound interest rate of 10 p.c.p.a.
A sum is invested at compound interest, compounded yearly. If the interest for two successive years is Rs. 5,700 and Rs. 7,410. calculate the rate of interest.
A certain sum amounts to Rs. 5,292 in two years and Rs. 5,556.60 in three years, interest being compounded annually. Find : the rate of interest.
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1,089 and for the third year it is Rs. 1,197.90. Calculate the rate of interest and the sum of money.
Ramesh invests Rs. 12,800 for three years at the rate of 10% per annum compound interest. Find:
- the sum due to Ramesh at the end of the first year.
- the interest he earns for the second year.
- the total amount due to him at the end of the third year.
The value of a machine depreciated by 10% per year during the first two years and 15% per year during the third year. Express the total depreciation of the machine, as percent, during the three 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.
Calculate the compound interest on Rs. 15,000 in 3 years; if the rates of interest for successive years be 6%, 8%, and 10% respectively.
Rekha borrowed Rs. 40,000 for 3 years at 10% per annum compound interest. Calculate the interest paid by her for the second year.
Calculate the compound interest for the second year on Rs. 15000 invested for 5 years at 6% per annum.
Calculate the difference between the compound interest and the simple interest on ₹ 8,000 in three years and at 10% 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?
Mr. Sharma lends ₹24,000 at 13% p.a. simple interest and an equal sum at 12% p.a. compound interest. Find the total interest earned by Mr. Sharma in 2 years.
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 difference between C.I. payable annually and S.I. on Rs.50,000 for two years is Rs.125 at the same rate of interest per annum. Find the rate of interest.
The compound interest on ₹ 5000 at 12% p.a for 2 years, compounded annually is ___________
If the compound interest is calculated quarterly, the amount is found using the formula __________
The time taken for ₹ 1000 to become ₹ 1331 at 20% p.a, compounded annually is 3 years
Find the compound interest for `2 1/2` years on ₹ 4000 at 10% p.a, if the interest is compounded yearly
The time taken for ₹ 4400 to become ₹ 4851 at 10%, compounded half yearly is _______
The cost of a machine is ₹ 18000 and it depreciates at `16 2/3 %` annually. Its value after 2 years will be ___________
A sum is taken for two years at 16% p.a. If interest is compounded after every three months, the number of times for which interest is charged in 2 years is ______.
