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
Find the compound interest on Rs 1000 at the rate of 8% per annum for \[1\frac{1}{2}\] years when interest is compounded half-yearly.
Find the compound interest on Rs 8000 for 9 months at 20% per annum compounded quarterly.
Ramesh deposited Rs 7500 in a bank which pays him 12% interest per annum compounded quarterly. What is the amount which he receives after 9 months.
Surabhi borrowed a sum of Rs 12000 from a finance company to purchase a refrigerator. If the rate of interest is 5% per annum compounded annually, calculate the compound interest that Surabhi has to pay to the company after 3 years.
Find the amount and the compound interest on Rs 8000 for \[1\frac{1}{2}\] years at 10% per annum, compounded half-yearly.
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?
A sum of money deposited at 2% per annum compounded annually becomes Rs 10404 at the end of 2 years. Find the sum deposited.
When principal P is compounded semi-annually at r % per annum for t years, then amount ______.
If principal = Rs 1,00,000, rate of interest = 10% compounded half yearly. Find
- Interest for 6 months.
- Amount after 6 months.
- Interest for next 6 months.
- Amount after one year.
Rahim borrowed Rs 10,24,000 from a bank for one year. If the bank charges interest of 5% per annum, compounded half-yearly, what amount will he have to pay after the given time period. Also, find the interest paid by him.
