Advertisements
Advertisements
Question
In what time will Rs 15625 amount to Rs 17576 at 4% p.a. compound interest?
Advertisements
Solution
Here P = Rs.15625, A = 17576, r = 4%
Now, `"P"(1 + "r"/100)^"t"` = A
⇒ `15625(1 + 4/100)^"t"`
= 17576
⇒ `(26/25)^"t"`
= `(17576)/(15625)`
= `(26/25)^3`
By comparing powers, t = 3
Hence time is 3 years.
APPEARS IN
RELATED QUESTIONS
The cost of a machine is supposed to depreciate each year at 12% of its value at the beginning of the year. If the machine is valued at Rs. 44,000 at the beginning of 2008, find its value :
(i) at the end of 2009.
(ii) at the beginning of 2007.
According to a census taken towards the end of the year 2009, the population of a rural town was found to be 64,000. The census authority also found that the population of this particular town had a growth of 5% per annum. In how many years after 2009 did the population of this town reach 74,088 ?
The population of a town decreased by 12% during 1998 and then increased by 8% during 1999. Find the population of the town, at the beginning of 1998, if at the end of 1999 its population was 2,85,120.
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.
A sum of money lent out at C.I. at a certain rate per annum becomes three times of itself in 10 years. Find in how many years will the money become twenty-seven times of itself at the same rate of interest p.a.
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.
The ages of Pramod and Rohit are 16 years and 18 years respectively. In what ratio must they invest money at 5% p.a. compounded yearly so that both get the same sum on attaining the age of 25 years?
Find the amount and compounded interest on Rs.15000 in 2`(1)/(2)` years at 10% p.a. compounded annually.
Calculate the rate percent when Rs 28000 amount to Rs 30870 in 2 years at compounded annually.
At what rate percent will Rs.12000 yield Rs.13891.50 as compound interest in 3 years?
