Advertisements
Advertisements
Question
In how many years will Rs 2000 amount to Rs 2662 at 10% p.a. compound interest?
Advertisements
Solution
Here P = Rs.2000, A = Rs.2662, r = 10%
Now, `"P"(1 + "r"/100)^"t"` = A
⇒ `2000(1 + 10/100)^"t"`
= 2662
⇒ `(11/10)^"t"`
= `(2662)/(2000)`
= `(1331)/(1000)`
= `(11/10)^3`
By comparing powers, t = 3
Hence time is 3 years.
APPEARS IN
RELATED QUESTIONS
The value of an article decreases for two years at the rate of 10% per year and then in the third year it increases by 10%. Find the original value of the article, if its value at the end of 3 years is Rs. 40,095.
A sum of money, invested at compound interest, amounts to Rs. 16,500 in 1 year and to Rs. 19,965 in 3 years. Find the rate per cent and the original sum of money invested.
Mr. Sharma borrowed a certain sum of money at 10% per annum compounded annually. If by paying Rs.19,360 at the end of the second year and Rs. 31,944 at the end of the third year he clears the debt; find the sum borrowed by him.
Find the amount and the compound interest payable annually on:
Rs.16000 for 2 years at 15% and 12% for the successive years.
Sunil borrows Rs.50,000 at 10% S.I. for 1`(1)/(2)` years. He immediately invests the entire amount for 1`(1)/(2)` years at 10% compounded annually. What is his gain at the end of the stipulated time, when he repays his loan?
Samidha borrowed Rs.7500 from Shreya at 30% per annum compounded interest. After 2 years, Samidha gave Rs.10000 and a juicer to Shreya to clear the debt. Find the cost of the juicer.
Find the amount and the compound interest on the following:
Rs.8000 for 3years at 10% per annum compounded annually.
Find the amount and the compound interest on the following :
Rs.12000 for 1`(1)/(2)` years at 5% per annum compounded annually.
Find the amount and compounded interest on Rs.15000 in 2`(1)/(2)` years at 10% p.a. compounded annually.
In what time will Rs 15625 amount to Rs 17576 at 4% p.a. compound interest?
