Advertisements
Advertisements
Question
In how much time will a sum of Rs 1600 amount to Rs 1852.20 at 5% per annum compound interest?
Advertisements
Solution
\[A = P \left( 1 + \frac{R}{100} \right)^n \]
\[1852 . 20 = 1600 \left( 1 + \frac{5}{100} \right)^n \]
\[\frac{1852 . 20}{1600} = \left( 1 . 05 \right)^n \]
\[ \left( 1 . 05 \right)^n = 1 . 157625\]
\[ \left( 1 . 05 \right)^n = \left( 1 . 05 \right)^3 \]
On comparing both the sides, we get:
n = 3
Thus, the required time is three years .
RELATED QUESTIONS
Find the compound interest on Rs 160000 for one year at the rate of 20% per annum, if the interest is compounded quarterly.
Three years ago, the population of a town was 50000. If the annual increase during three successive years be at the rate of 4%, 5% and 3% respectively, find the present population.
The count of bacteria in a culture grows by 10% in the first hour, decreases by 8% in the second hour and again increases by 12% in the third hour. If the count of bacteria in the sample is 13125000, what will be the count of bacteria after 3 hours?
The population of a city increases each year by 4% of what it had been at the beginning of each year. If the population in 1999 had been 6760000, find the population of the city in (i) 2001 (ii) 1997.
Ms. Cherian purchased a boat for Rs 16000. If the total cost of the boat is depreciating at the rate of 5% per annum, calculate its value after 2 years.
The value of a machine depreciates at the rate of 10% per annum. What will be its value 2 years hence, if the present value is Rs 100000? Also, find the total depreciation during this period.
Mohan purchased a house for Rs 30000 and its value is depreciating at the rate of 25% per year. Find the value of the house after 3 years.
The value of a machine depreciates at the rate of 10% per annum. It was purchased 3 years ago. If its present value is Rs 43740, find its purchase price.
Find the amount and the compound interest on ₹ 4,000 in 2 years, if the rate of interest for the first year is 10% and for the second year is 15%.
The population of a city was 20,000 in the year 1997. It increased at the rate of 5% p.a. Find the population at the end of the year 2000.
