Advertisements
Advertisements
Question
Rajan borrowed Rs 32,000 at 12% compound interest for 2 years. At the end of the first year he returned some amount and on paying Rs 17,920 at the end of the second year, he cleared the loan. Calculate the amount Rajan paid at the end of the first year.
Advertisements
Solution
Interest for first year :
S.I. = `("P" xx "r" xx "t")/100`
S.I. = `(32000 xx 12 xx 1)/100`
S.I. = 3,840
Principal amount for second year = Rs (32,000 + 3,840) = Rs 35,840
Rajan paid =Rs x (say)
Therefore, new principal = Rs 35,840 - x
A=Rs 17,920 ; r = 12% ; n= 1 year
`"A" = "P" (1 + "r"/100)^"n"`
Rs 17,920 = Rs (35,840 - x)`(1 + 12/100)`
Rs 17, 920 = Rs (35,840 - x ) × 1.12
Rs 17, 920 = Rs 40,140.80 - Rs1.12 x
1.12 x =Rs(40,140.80 - 17, 920)
`"x" = ("Rs" 22220.80)/1.12`
x = Rs 19, 840
Therefore, Amount Rajan paid at the end of first year = Rs 19,840
APPEARS IN
RELATED QUESTIONS
Pradeep gave Rs.16000 to a friend for 1.5 years at 15% p.a. compounded semi-annually. Find the interest earned by him at the end of 1.5 years.
Mr. Chatterjee borrowed Rs 50,000 in compound interest from Mr. Patel for 2 years when the rates of interest for the successive years were `7 1/2 %` and `9 1/4 %`. If Mr. Chatterjee returned Rs 27, 750 at the end of the first year, find the amount he needs to return at the end of the seoond year to clear the loan.
What sum of money will amount to Rs 9,447.84 in 3 years at 8% p.a. compound interest?
The value of a 'Honda' bike depreciated by 16% in the first year and by 13% in the second year. Find the value of the bike if it depreciated by Rs 7,098 in the second year.
The cost of a scooter depreciated by Rs 5100 during the second year and by Rs 4,335 during the third year. Calculate
The cost of a machine depreciated by Rs 2592 during the third year and by Rs 2332.80 during the fourth year. Calculate :
The rate of depreciation.
Ramesh borrowed Rs 12,000 at 15% compound interest for 2 years. At the end of the first year he returned some amount and on paying Rs 9,200 at the end of the second year, he cleared the loan. Calculate the amount of money Ramesh returned at the end of the first year.
What sum of money will amount to Rs 8,073 in 2 years at compound interest if the rates of interest for the successive years are 15% and 17%?
Calculate the rate per cent at which Rs 16,000 will yield Rs 3,876.75 as compound interest in 3 years.
The compound interest on a certain sum of money at 10% p.a. for 3 years is Rs 4,965. What will be the simple interest on the same sum for 3 years at 11% p.a.?
