Advertisements
Advertisements
Question
On what sum of money will the compound interest for `1 1/2` years at 16% p.a. compounded half-yearly amount to Rs 649.28?
Advertisements
Solution
P =x ; t = `1 1/2 ` years = 3 x 6 months ; r = 16 % compounded half-yearly =`16/2` % = 8% ; A = Rs (x + 649.28)
`"A" = "P" (1 + "r"/100)^"n"`
Rs (x + 649.28) = x `(1 + 8/100)^3`
Rs (x + 649.28) =x × 1.08 × 1.08 × 1.08
Rs (x + 649.28) = 1.259712 x
0.259712 x = Rs 649.28
x = Rs 2,500
On Rs 2,500 the C.I. for `1 1/2` years at 16% compounded half-yearly will be Rs 649.28
RELATED QUESTIONS
Prashant borrowe Rs. 35000 at 12% p.a. compounded semi-annually. Find the amount he needs to pay back at the end of `1 1/2` years
Pradeep gave Rs.16000 to a friend for 1.5 years at 15% p.a. compounded semi-annually. Find the interest earned by him at the end of 1.5 years.
Mr.Mohan invested Rs. 12500 at 16 % p.a. compounded annually. If the duration of the deposite was 1.5 years , find the amount Mr.Mohan received at the end of 1.5 years.
What sum of money will amount to Rs 3,326.40 in 3 years at compound interest, if the rates of interest are 8%, 10% and 12% for the successive years?
The simple interest on an amount for 2 years at 8% is Rs 320. Calculate the compound interest on the same amount at the same rate for 1 year if the interest is compounded half-yearly.
Calculate the amount and the compound interest for the following, when cornpounded half-yearly:
Rs 25,000 for `1 1/2` years at 12 %
Calculate the amount and the compound interest for the following:
Rs 10,000 for 3 years if tl1e rates of interest are 10%, 11% and 12% for the successive years.
What sum of money will amount to Rs 10,256.40 in 3 years at compound interest if the rates of interest for the successive years are 10%, 11% and 12%?
A sum of money placed at compound interest compounded annually amounts to Rs 31,360 in 2 years and to Rs 35,123.20 in 3 years. Calculate the rate of interest and the sum.
The cost of a machine depreciates by 10% every year. If its present worth is Rs.18,000; what will be its value after three years?
