Advertisements
Advertisements
Question
Mr. Kumar borrowed Rs. 15,000 for two years. The rate of interest for the two successive years are 8% and 10% respectively. If he repays Rs. 6,200 at the end of the first year, find the outstanding amount at the end of the second year.
Advertisements
Solution
P = ₹ 15,000
Interest for 1st year
= `(15,000 xx 8 xx 1)/(100)`
= ₹ 1,200
Amount after one year
= ₹ (15,000 + 1,200)
= ₹ 16,200
He repays ₹ 6,200 at the end of the 1st year
∴ Principal for 2nd year
= ₹ (16,200 - 6,200)
= ₹ 10,000
Now interest for the 2nd year
= `(10,000 xx 10 xx 1)/(100)`
= ₹1,000
∴ Amount outstanding at the end of 2nd year
= ₹ (10,000 + 1,000)
= ₹ 11,000.
RELATED QUESTIONS
Alisha invested Rs 75000 for 4 years at 8 % p.a. compound interest ,
Find the amount at the end of third year.
Calculate the amount and the compound interest for the following :
Rs. 12500 for 2 years at 8% for the first year and 10% for the second year.
A man's savings increases by Rs 50 every year. If he saves Rs 500 in the first year and puts it at 10% compound interest, find his savings at the end of the third year.
Mohan invested a certain sum at compound interest, compounded annually. If the interests for two successive years were Rs 600 and Rs 648, calculate the rate of interest and the sum invested.
Calculate the amount and cornpound interest for the following, when cornpounded annually:
Rs 25,000 for 3 years at 8 % p.a.
Calculate the amount and the compound interest on:
Rs. 16,000 in 3 years, when the rates of the interest for successive years are 10%, 14% and 15% respectively.
A man lends Rs. 12,500 at 12% for the first year, at 15% for the second year and at 18% for the third year. If the rates of interest are compounded yearly ; find the difference between the C.I. fo the first year and the compound interest for the third year.
On a certain sum of money, the difference between the compound interest for a year, payable half-yearly, and the simple interest for a year is Rs. 180/- Find the sum lent out, if the rate of interest in both the cases is 10% per annum.
The population of a town 2 years ago was 62,500. Due to migration to cities, it decreases at the rate of 4% per annum. Find its present population.
The total number of industries in a particular portion of the country is approximately 1,600. If the government has decided to increase the number of industries in the area by 20% every year; find the approximate number of industries after 2 years.
