Advertisements
Advertisements
Question
Ramesh deposited Rs 7500 in a bank which pays him 12% interest per annum compounded quarterly. What is the amount which he receives after 9 months.
Advertisements
Solution
Given:
P = Rs 7, 500
R = 12 % p . a . = 3 % quarterly
T = 9 months = 3 quarters
We know that:
\[A = P \left( 1 + \frac{R}{100} \right)^n \]
\[A = 7, 500 \left( 1 + \frac{3}{100} \right)^3 \]
\[ = 7, 500 \left( 1 . 03 \right)^3 \]
= 8, 195 . 45
Thus, the required amount is Rs 8, 195 . 45.
RELATED QUESTIONS
Kamala borrowed Rs 26400 from a Bank to buy a scooter at a rate of 15% p.a. compounded yearly. What amount will she pay at the end of 2 years and 4 months to clear the loan?
(Hint: Find A for 2 years with interest is compounded yearly and then find SI on the 2nd year amount for `4/12` years.)
Find the amount which Ram will get on Rs 4,096, he gave it for 18 months at `12 1/2` %per annum, interest being compounded half yearly.
Find the compound interest when principal = Rs 3000, rate = 5% per annum and time = 2 years.
Roma borrowed Rs 64000 from a bank for \[1\frac{1}{2}\] years at the rate of 10% per annum. Compute the total compound interest payable by Roma after \[1\frac{1}{2}\] years, if the interest is compounded half-yearly.
Find the compound interest on Rs 64000 for 1 year at the rate of 10% per annum compounded quarterly.
Kamal borrowed Rs 57600 from LIC against her policy at \[12\frac{1}{2} \%\] per annum to build a house. Find the amount that she pays to the LIC after \[1\frac{1}{2}\] years if the interest is calculated half-yearly.
A sum of money was lent for 2 years at 20% compounded annually. If the interest is payable half-yearly instead of yearly, then the interest is Rs 482 more. Find the sum.
Find CI paid when a sum of Rs. 10,000 is invested for 1 year and 3 months at `8 1/2%` per annum compounded annually.
The compound interest on Rs 8,000 for one year at 16% p.a. compounded half yearly is ______, given that (1.08)2 = 1.1664.
If principal = Rs 1,00,000, rate of interest = 10% compounded half yearly. Find
- Interest for 6 months.
- Amount after 6 months.
- Interest for next 6 months.
- Amount after one year.
