Advertisements
Advertisements
Question
How much will Rs 14000 amounts to 2 years at compound interest, if the rates for the successive years be 5% and 8% respectively?
Advertisements
Solution
Here P1 = Rs.14000 and r = 5%
So, Amount after 1 year
= `"P"(1 + "r"/100)`
= `14000(1 + 5/100)`
= `14000 xx (105)/(100)`
= 14700
Thus, P2 = Rs.14700 and r = 8%
Amount after 2 year
= `"P"(1 + "r"/100)`
= `14700(1 + 8/100)`
= `14700 xx (108)/(100)`
= 15876
Hence, Amount = Rs.15876.
APPEARS IN
RELATED QUESTIONS
In what time will Rs. 1500 yield Rs. 496.50 as compound interest at 10% per annum compounded annually?
In what period of time will Rs. 12,000 yield Rs. 3972 as compound interest at 10% per annum, if compounded on a yearly basis?
The value of a refrigerator depreciates by 8% of its value at the beginning of the year. Find the original value of the refrigerator if it depreciated by Rs 2,392 in the second year.
A certain sum of money invested at compound interest compounded annually amounted to Rs 26,450 in 2 years and to Rs 30,417.50 in 3 years. Calculate the rate of interest and the sum invested.
Simple interest on a sum of money for 2 years at 4% is Rs. 450. Find compound interest on the same sum and at the same rate for 1 year, if the interest is reckoned half yearly.
Rohit borrows Rs. 86,000 from Arun for two years at 5% per annum simple interest. He immediately lends out this money to Akshay at 5% compound interest compounded annually for the same period. Calculate Rohit's profit in the transaction at the end of two years.
The simple interest on a certain sum of money for 3 years at 5% per annum is Rs.1,200. Find the amount and the compound interest due on this sum of money at the same rate and after 2 years. Interest is reckoned annually.
Compute the compound interest for the third year on Rs. 5000 invested for 5 years at 10% per annum, the interest being payable annually.
Find the difference between the compound interest and simple interest on Rs 20,000 at 12% per annum for 3 years, the compound interest being payable annually.
Priyanka lends Rs.15,500 at 10% for the first year, at 15% for the second year and at 20% for the third year. If the rates of interest are compounded yearly, find the difference between the compound interest of the second year and the third year.
