Advertisements
Advertisements
Question
Rajeev borrowed Rs 15,000 from Sanjay at 12% p.a. compound interest. After 2 years Rajeev gave Rs 7,500 and a scooter to clear the account. Find the cost of the scooter.
Advertisements
Solution
Here, P = Rs 15,000; r = 12°/o p.a.; t = 2 years
∴ A = ` "P" (1 + "r"/100)^n`
`= "Rs" 15000 (1 + 12/100)^2`
`= "Rs" 15000 (112/100)^2`
`= "Rs" 15000 (28/25)^2`
`= "Rs" 15000 xx 28/25 xx 28/25`
∴ A = Rs 18816
Hence, amount due after 2 years =Rs 18,816
Amount paid after 2 years= Rs 7,500
Balance amount =Amount due after 2 years - amount paid after 2 years = cost of the scooter= Rs (18,816 - 7,500)
Cost of the scooter= Rs 11,316
APPEARS IN
RELATED QUESTIONS
Shekhar had a fixed deposit of Rs 24000 for 3 years . If he received interest at 10% p.a compounded annually, find the amount received by him at the time of maturity.
Prashant borrowe Rs. 35000 at 12% p.a. compounded semi-annually. Find the amount he needs to pay back at the end of `1 1/2` years
Calculate the amount and cornpound interest for the following, when cornpounded annually:
Rs 16,000 for 3 years at `7 1/2` % p.a.
Calculate the amount and the compound interest for the following:
Rs 10,000 for 3 years if tl1e rates of interest are 10%, 11% and 12% for the successive years.
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%?
On what sum of money will the compound interest for `1 1/2` years at 16% p.a. compounded half-yearly amount to Rs 649.28?
In what time will Rs 8,000 amount to Rs 12,167 at 15% per annum compounded annually?
The compound interest on a certain sum of money at 5% p.a. for 2 years is Rs 512.50. What will be the simple interest on the same sum for 3 years at 6% p.a.?
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.?
If the interest is compounded half yearly, calculate the amount when the Principal is Rs. 7,400, the rate of interest is 5% per annum and the duration is one year.
