Advertisements
Advertisements
Question
Priyanka lends Rs.15,500 at 10% for the first year, at 15% for the second year and at 20% for the third year. If the rates of interest are compounded yearly, find the difference between the compound interest of the second year and the third year.
Advertisements
Solution
For 1st year : P = Rs.15500, R = 10% and T = 1 year
Interest = Rs.`(15500 xx 10 xx 1)/(100)`
= Rs.1550
Amount
= Rs.15500 + Rs.1550
= Rs.17050
For 2nd year : P = Rs.17050, R = 15% and T = 1 year
Interest = Rs.`(17050 xx 15 xx 1)/(100)`
= Rs.2557.50
Amount
= Rs.17050 + Rs.2557.50
= Rs.19607.50
For 3rd year : P = Rs.19607.50; R = 20% and T = 1 year
= Rs.`(19607.50 xx 20 xx 1)/(100)`
= Rs.3921.50
Amount
= Rs.19607.50 + Rs.3921.50
= Rs.23529
Difference between the C.I. of the 2nd year and the 3rd year
= Rs.(3921.50 - 2557.50)
= Rs.1364.
APPEARS IN
RELATED QUESTIONS
In what time will Rs. 1500 yield Rs. 496.50 as compound interest at 10% per annum compounded annually?
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
In what period of time will Rs. 12,000 yield Rs. 3972 as compound interest at 10% per annum, if compounded on a yearly basis?
Calculate the amount and the compound interest for the following:
Rs.17,500 at 12°10 p.a. in 3 years
Calculate the amount and the compound interest for the following:
Rs.30,000 at 8°/o p.a. in `2 1/2` years
Calculate the amount and the compound interest for the following:
Rs.10,000 at 8°/o p.a. in `2 1/4` years
The value of a car depreciated by 10% in the first 2 years and by 8% in the third year. Express the total depreciation of the car as a single per cent during the three years.
Calculate the sum of money on which the compound interest (payable annually) for 2 years be four times the simple interest on Rs. 4,715 for 5 years, both at the rate of 5% per annum.
Find the amount and the compound interest on the following :
Rs.16000 for 3 years at 10%, 8% and 6% for successive years.
How much will Rs 25000 amount to in 2 years at compound interest, if the rates for 1st and 2nd years be 4% and 5% p.a. respectively?
