Advertisements
Advertisements
Question
On what sum will the compound interest at 5% per annum for 2 years compounded annually be Rs 164?
Advertisements
Solution
Let the sum be Rs x.
We know that:
CI = A - P
\[ = P \left( 1 + \frac{R}{100} \right)^n - P\]
\[ = P\left[ \left( 1 + \frac{R}{100} \right)^n - 1 \right]\]
\[164 = x\left[ \left( 1 + \frac{5}{100} \right)^2 - 1 \right]\]
\[164 = x\left[ \left( 1 . 05 \right)^2 - 1 \right]\]
\[x = \frac{164}{0 . 1025}\]
\[ = 1, 600\]
Thus, the required sum is Rs 1, 600.
RELATED QUESTIONS
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.
Find the compound interest at the rate of 10% per annum for two years on that principal which in two years at the rate of 10% per annum gives Rs 200 as simple interest.
Kamal borrowed Rs 57600 from LIC against her policy at \[12\frac{1}{2} \%\] per annum to build a house. Find the amount that she pays to the LIC after \[1\frac{1}{2}\] years if the interest is calculated half-yearly.
Find the amount that David would receive if he invests Rs 8192 for 18 months at \[12\frac{1}{2} \%\] per annum, the interest being compounded half-yearly.
Find the compound interest on Rs 15625 for 9 months, at 16% per annum, compounded quarterly.
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?
In what time will Rs 4400 become Rs 4576 at 8% per annum interest compounded half-yearly?
Find the rate at which a sum of money will become four times the original amount in 2 years, if the interest is 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.
A sum of money deposited at 2% per annum compounded annually becomes Rs 10404 at the end of 2 years. Find the sum deposited.
