Advertisements
Advertisements
Question
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?
Advertisements
Solution
P = Rs. 10,000, R = 6 °/o p.a.
Interest for first year
`= ("Rs" 10000 xx 6 xx 1)/100`
= Rs600
Amount due after 1st year
=Rs. 10,000 +Rs. 600 =Rs 10,600
Amount paid after 1st year = Rs. 5,600
Balance amount = Rs. 10,600 - Rs. 5,600 =Rs. 5,000
Interest for second year when r = 8°/o p.a.
`= ("Rs" 5000 xx 8 xx 1)/100`
= Rs 400
Amount due after 2nd year
= Rs. 5,000 + Rs. 400
=Rs 5,400
Prakash has to return Rs 5,400 to Rajesh at the end of second year.
RELATED QUESTIONS
Alisha invested Rs 75000 for 4 years at 8 % p.a. compound interest ,
Find the amount at the end of the second year.
Alisha invested Rs 75000 for 4 years at 8 % p.a. compound interest,
Find the interest earned in the third year.
Aryan borrowed a sum or Rs. 36,000 for `1 1/2` years at 10 % p.a. compound interest.
Find the amount he needs to return to clear the debt.
Natasha gave Rs.6O,OOO to Nimish for 3 years at 15%,p.a. compound interest.
Calculate to the nearest rupee :
The amount Natasha receives at the end of 3 years.
Gayatri invested Rs.25,OOO for 3 years and 6 months in a bank which paid
1O % p.a- compound interest. Calculate the amount to the nearest.Ts-10, that she
received at the end of the period.
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.
Find the sum invested at 8% p.a. compound interest on which the interest for the third year exceeds that of the first year by Rs 166.40.
Find the compound interest, correct to the nearest rupee, on Rs. 2,400 for `2 1/2` years at 5 per cent per annum.
How much will Rs. 50,000 amount to in 3 years, compounded yearly, if the rates for the successive years are 6%, 8% and 10% respectively?
The compound interest, calculated yearly, on a certain sum of money for the second year is Rs. 1320 and for the third year is Rs. 1452. Calculate the rate of interest and the original sum of money.
