Advertisements
Advertisements
Question
Ishita invested a sum of Rs 12000 at 5% per annum compound interest. She received an amount of Rs 13230 after n years. Find the value of n.
Advertisements
Solution
\[A = P \left( 1 + \frac{R}{100} \right)^n \]
\[13, 230 = 12, 000 \left( 1 + \frac{5}{100} \right)^n \]
\[ \left( 1 . 05 \right)^n = \frac{13, 230}{12, 000}\]
\[ \left( 1 . 05 \right)^n = 1 . 1025\]
\[ \left( 1 . 05 \right)^n = \left( 1 . 05 \right)^2 \]
On comparing both the sides, we get:
n = 2
Thus, the value of n is two years.
RELATED QUESTIONS
Maria invested Rs 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find.
1) The amount credited against her name at the end of the second year
2) The interest for the 3rd year.
Find the amount of Rs 2400 after 3 years, when the interest is compounded annually at the rate of 20% per annum.
Rahman lent Rs 16000 to Rasheed at the rate of \[12\frac{1}{2} %\] per annum compound interest. Find the amount payable by Rasheed to Rahman after 3 years.
Find the amount of Rs 4096 for 18 months at
Find the amount and the compound interest on Rs 8000 for \[1\frac{1}{2}\] years at 10% per annum, compounded half-yearly.
Rakesh lent out Rs 10000 for 2 years at 20% per annum, compounded annually. How much more he could earn if the interest be compounded half-yearly?
A certain sum amounts to Rs 5832 in 2 years at 8% compounded interest. Find the sum.
For calculation of interest compounded half yearly, keeping the principal same, which one of the following is true?
The compound interest on a sum of Rs P for T years at R% per annum compounded annually is given by the formula `P(1 + R/100)`.
Rahim borrowed Rs 10,24,000 from a bank for one year. If the bank charges interest of 5% per annum, compounded half-yearly, what amount will he have to pay after the given time period. Also, find the interest paid by him.
