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 10800 for 3 years at `12 1/2` % per annum compounded annually.
Find the difference between the compound interest and simple interest. On a sum of Rs 50,000 at 10% per annum for 2 years.
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 present population of a town is 28000. If it increases at the rate of 5% per annum, what will be its population after 2 years?
A certain sum of money is put at compound interest, compounded half-yearly. If the interest for two successive half-years are Rs. 650 and Rs. 760.50; find the rate of interest.
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.
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 ?
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 ?
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 ?
Rachna borrows Rs. 12,000 at 10 percent per annum interest compounded half-yearly. She repays Rs. 4,000 at the end of every six months. Calculate the third payment she has to make at end of 18 months in order to clear the entire loan.
On a certain sum of money, invested at the rate of 10 percent per annum compounded annually, the interest for the first year plus the interest for the third year is Rs. 2,652. Find the sum.
Ashok borrowed Rs. 12,000 at some rate on compound interest. After a year, he paid back Rs.4,000. If the compound interest for the second year is Rs. 920, find:
- The rate of interest charged
- The amount of debt at the end of the second year
Calculate the amount and the compound interest on Rs. 12,000 in 2 years and at 10% per 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?
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 annual rate of growth in population of a town is 10%. If its present population is 26620, then the population 3 years ago was _________
If the compound interest is calculated quarterly, the amount is found using the formula __________
The compound interest on ₹ 16000 for 9 months at 20% p.a, compounded quarterly is ₹ 2522
A principal becomes ₹ 2028 in 2 years at 4% p.a compound interest. Find the principal
Suppose a certain sum doubles in 2 years at r % rate of simple interest per annum or at R% rate of interest per annum compounded annually. We have ______.
The compound interest on Rs 50,000 at 4% per annum for 2 years compounded annually is ______.
Compound interest is the interest calculated on the previous year’s amount.
