Advertisements
Advertisements
Question
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?
Advertisements
Solution
Principal, P = Rs. 12,000, Rate of interest, r = 10%, C.I. = Rs. 3972
`C.I. = P[(1 + R/100)^n - 1]`
`=> 3972 = 12000[(1 + 10/100)^n - 1]`
`=> 3972 = 12000[(11/10)^n - 1]`
`=> 3972/12000 + 1 = (11/10)^n`
`=> 1331/1000 = (11/10)^n`
`=> (11/10)^3 = (11/10)^n`
`=> n = 3 year`
APPEARS IN
RELATED QUESTIONS
Ranbir borrows Rs. 20,000 at 12% per annum compound interest. If he repays Rs. 8400 at the end of the first year and Rs. 9680 at the end of the second year, find the amount of loan outstanding at the beginning of the third year.
Calculate the amount and the compound interest for the following:
Rs.13,500 at 10°10 p.a. in 2 years
Calculate the amount and the compound interest for the following:
Rs.30,000 at 8°/o p.a. in `2 1/2` years
Calculate the amount and the compound interest for the following:
Rs.40, 000 at `5 1/4` % p.a. in `1 1/3` years
Find the compound interest to the nearest rupee on Rs. 10,800 for `2 1/2` years at 10% per annum.
How much will Rs 14000 amounts to 2 years at compound interest, if the rates for the successive years be 5% and 8% respectively?
Find the amount and the compound interest on Rs 17500 for 3 years, if the rates for successive years is 4%, 5% and 6% respectively, the interest is payable annually.
A man borrows Rs.20000 at 10% per annum compound interest payable annually. If he repays Rs.5000 at the end of the first year and Rs.10000 at the end of the second year; how much should he pay at the end of the third year in order to clear the account? Find the answer correct to the nearest rupee.
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.
Find compound interest on Rs 31250 for 3 years, if the rates of interest for 1st,2nd and 3rd years be 8%, 10% and 12% respectively.
