Advertisements
Advertisements
Question
Geeta borrowed Rs. 15,000 for 18 months at a certain rate of interest compounded semi-annually. If at the end of six months it amounted to Rs. 15,600; calculate :
(i) the rate of interest per annum.
(ii) the total amount of money that Geeta must pay at the end of 18 months in order to clear the account.
Advertisements
Solution
For 1st half - year :
P= Rs. 15,000; A= Rs. 15,600 and T = ½ year
Interest = Rs. 15,600 - Rs. 15,000= Rs. 600
Rate= `["I" xx 100 ]/["P" xx "T"] %
= [600 xx 100]/[15,000 xx 1/2]` % = 8% .
For 2nd half - year :
P = Rs. 15,600; R = 8% and T = `1/2` year
Interest = Rs. `[15,600 xx 8 xx 1/2 ]/[100]` = Rs. 624
Amount = Rs. 15,600 + Rs. 624 = Rs. 16,224
For 3rd half - year :
P = Rs. 16,224; R = 8 % and T = `1/2` year
Interest = Rs. `[16,224 xx 8 xx 1/2 ]/[100]` = Rs. 648.96
Amount = Rs. 16,224 + Rs. 648.96 = Rs. 16,872.96.
APPEARS IN
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 62500 for `1 1/2` years at 8% per annum compounded half yearly.
Find the amount and the compound interest.
| No. | Principal (₹) | Rate (p.c.p.a.) | Duration (Years) |
| 1 | 2000 | 5 | 2 |
| 2 | 5000 | 8 | 3 |
| 3 | 4000 | 7.5 | 2 |
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.
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.
Rs. 8,000 is lent out at 7% compound interest for 2 years. At the end of the first year Rs. 3,560 are returned. Calculate :
(i) the interest paid for the second year.
(ii) the total interest paid in two years.
(iii) the total amount of money paid in two years to clear the debt.
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, lent out at C.I., interests for first, second and third years are Rs. 1,500; Rs. 1,725 and Rs. 2,070 respectively. Find the rate of interest for the (i) second year (ii) third year.
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 amount and the compound interest on Rs. 10,000 in 3 years at 8% per annum.
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 compound interest payable annually on a certain sum for 2 years is Rs 40.80 and the simple interest is Rs 40. Find the sum and the rate percent.
The difference between the C.I and S.I for 2 years for a principal of ₹ 5000 at the rate of interest 8% p.a is ___________
Depreciation value is calculated by the formula, `"P"(1 - "r"/100)^"n"`
The present value of a machine is ₹ 16800. It depreciates at 25% p.a. Its worth after 2 years is ₹ 9450
The compound interest on ₹ 16000 for 9 months at 20% p.a, compounded quarterly is ₹ 2522
Find the compound interest for `2 1/2` years on ₹ 4000 at 10% p.a, if the interest is compounded yearly
In how many years will ₹ 3375 become ₹ 4096 at `13 1/3` p.a if the interest is compounded half-yearly?
The time taken for ₹ 4400 to become ₹ 4851 at 10%, compounded half yearly is _______
Suppose for the principal P, rate R% and time T, the simple interest is S and compound interest is C. Consider the possibilities.
- C > S
- C = S
- C < S
Then
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 ______.
To calculate the growth of a bacteria if the rate of growth is known, the formula for calculation of amount in compound interest can be used.
Compound interest is the interest calculated on the previous year’s amount.
Find the difference between Compound Interest and Simple Interest on Rs 45,000 at 12% per annum for 5 years.
