Advertisements
Advertisements
Question
Meera borrowed Rs 12,500 on compound interest from Rajeev for 2 years when the rates of interest for successive years were 8% and 10%. If Meera returned Rs 7,500 at the end of the first year, find the amount she has to return at the end of the second year.
Advertisements
Solution
P = Rs. 12,500, R = 8 °/o p.a.
Interest for first year
= `("Rs" 12500 xx 8 xx 1)/100`
= Rs 1,000
Amount due after 1st year =Rs. 12,500 +Rs. 1,000 =Rs 13,500
Amount paid after 1st year= Rs. 7,500
Balance amount= Rs. 13,500 - Rs. 7,500 =Rs. 6,000
Interest for second year when r = 10°/o p.a.
`=( "Rs" 6000 xx 10 xx 1)/100`
= Rs 600
Amount due after 2nd year
= Rs. 6,000 + Rs. 600 =Rs 6.600
Meera has to return Rs 6,600 to Rajeev at the end of second year
APPEARS IN
RELATED QUESTIONS
Calculate the amount and the compound interest for the following:
Rs.20, 000 at9°/o p.a. in `2 1/3` years
A sum of Rs. 65000 is invested for 3 years at 8 % p.a. compound interest.
Find the compound interest earned in the first two years.
Alisha invested Rs 75000 for 4 years at 8 % p.a. compound interest,
Find the interest earned in the third year.
Ameesha loaned Rs. 24,000 to a friend for `2 1/2` at 10 % p.a. compound interest.
Calculate the interest earned by Ameesha.
Prerna borrowed Rs.16000 from a friend at 15 % p.a. compound interest. Find the amount , to the nearest rupees, that she needs to return at the end of 2.4 years to clear the debt.
Pooja borrowed Rs 15,000 from Sonali at 11% p.a. compound interest. If she repays Rs 7,550 at the end of first year and Rs 6,101 at the end of second year, find the amount Pooja needs to give to Sonali at the end of third year to clear her debt.
Find the sum invested at `12 1/2` p.a. compound interest on which the interest for the third year exceeds that of the first year by Rs 531.25.
Calculate the compound interest for the second year on ₹ 8,000/- invested for 3 years at 10% per annum.
Govind borrows Rs 18,000 at 10% simple interest. He immediately invests the money borrowed at 10% compound interest compounded half-yearly. How much money does Govind gain in one year?
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1320 and for the third year is Rs. 1452. Calculate the rate of interest and the original sum of money.
