Advertisements
Advertisements
Question
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.
Advertisements
Solution
1) P = Rs 8,000
R = 5% per annum
n = 2 years
A = Rs `[8000(1 + 5/100)^2] = Rs (8000(1 + 1/20)^2)`
= Rs `(8000 xx 21/20 xx 21/20)` = Rs 8820
2) The interest for the next one year, i.e. the third year, has to be calculated.
By taking Rs 8,820 as principal, the S.I. for the next year will be calculated.
S.I = Rs `((8820 xx 5 xx 1)/100)= Rs 441`
RELATED QUESTIONS
Find the amount and the compound interest on Rs 10,000 for `1 1/2` years at 10% per annum, compounded half yearly. Would this interest be more than the interest he would get if it was compounded annually?
Roma borrowed Rs 64000 from a bank for \[1\frac{1}{2}\] years at the rate of 10% per annum. Compute the total compound interest payable by Roma after \[1\frac{1}{2}\] years, if the interest is compounded half-yearly.
Abha purchased a house from Avas Parishad on credit. If the cost of the house is Rs 64000 and the rate of interest is 5% per annum compounded half-yearly, find the interest paid by Abha after one year and a half.
Find the compound interest on Rs 15625 for 9 months, at 16% per annum, compounded quarterly.
A sum amounts to Rs 756.25 at 10% per annum in 2 years, compounded annually. Find the sum.
What sum will amount to Rs 4913 in 18 months, if the rate of interest is \[12\frac{1}{2} \%\] per annum, compounded half-yearly?
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.
Sum of money amounts to Rs 453690 in 2 years at 6.5% per annum compounded annually. 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)`.
