Advertisements
Advertisements
Question
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.
Advertisements
Solution
P = Rs. 15,000, R = 11 °/o p.a.
Interest for first year
`= ("Rs" 15000 xx 11 xx 1)/100`
= Rs, 1650
Amount due after 1st year
= Rs. 15,000 + Rs. 1,650 =Rs 16,650
Amount paid after 1st year= Rs. 7,550
Balance amount= Rs. 16,650 - Rs. 7,550 =Rs. 9, 100
Interest for second year
`=("Rs" 9100 xx 11 xx 1)/100`
=Rs 1001
Amount paid after 2nd year = Rs. 61 10 1
Balance amount = Rs. 10, 101 - Rs. 61 101 =Rs. 4,000
Interest for third year
= `("Rs" 4000 xx 11 xx 1)/100`
= Rs 440
Amount due after 3rd year
= Rs. 4,000 + Rs. 440 =Rs 4,440
Pooja needs to pay Rs 4,440 to Sonali at the end of third year to clear her debt.
RELATED QUESTIONS
A sum of Rs. 65000 is invested for 3 years at 8 % p.a. compound interest.
Find the sum due at the end of the first year.
Aryan borrowed a sum or Rs. 36,000 for `1 1/2` years at 10 % p.a. compound interesL
Find he tol interest paid by him.
Prakash borrowed Rs 10,000 from Rajesh for 2 years at 6% and 8% p.a. compound interest for successive years. If Prakash returns Rs 5,600 at the end of the first year, how much does he have to give to Rajesh at the end of the second year to clear the loan?
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.
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.
Calculate the compound interest for the second year on ₹ 8,000/- invested for 3 years at 10% per annum.
A borrowed Rs. 2,500 from B at 12% per annum compound interest. After 2 years, A gave Rs. 2,936 and a watch to B to clear the account. Find the cost of the watch.
A man invests ₹ 5,600 at 14% per annum compound interest for 2 years. Calculate:
- the interest for the first year.
- the amount at the end of the first year.
- the interest for the second year, correct to the nearest rupee.
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.
6000 workers were employed to construct a river bridge in four years. At the end of first year, 20% workers were retrenched; At the end of second year 5% of the workers at that time were retrenched. However, to complete the project in time, the number of workers was increased by 15% at the end of third year. How many workers were working during the fourth year?
