Advertisements
Advertisements
Question
Ramesh invests Rs. 12,800 for three years at the rate of 10% per annum compound interest. Find:
- the sum due to Ramesh at the end of the first year.
- the interest he earns for the second year.
- the total amount due to him at the end of the third year.
Advertisements
Solution
i. For 1st year:
P = Rs. 12,800; R = 10% and T = 1 year
Interest = Rs. `[ 12,800 xx 10 xx 1]/100`
= Rs. 1,280
Amount = Rs. 12,800 + Rs. 1,280
= Rs. 14,080
ii. For 2nd year:
P = Rs. 14,080; R = 10% and T = 1 year
Interest = Rs. `[ 14,080 xx 10 xx 1]/100` = Rs. 1,408.
Amount = Rs. 14,080 + Rs. 1,408
= Rs. 15,488
iii. For 3rd year:
P = Rs. 15,488; R = 10% and T = 1 year
Interest = Rs. `[15,488 xx 10 xx 1]/[100]` = Rs. 1,548.80
Amount = Rs. 15,488 + Rs. 1,548.80 = Rs. 17,036.80
RELATED QUESTIONS
Calculate the amount and compound interest on Rs 10800 for 3 years at `12 1/2` % per annum compounded annually.
Find the compound interest at the rate of 5% for three years on that principal which in three years at the rate of 5% per annum gives Rs 12000 as simple interest.
Simple interest on a sum of money for 2 years at \[6\frac{1}{2} %\] per annum is Rs 5200. What will be the compound interest on the sum at the same rate for the same period?
A sum is invested at compound interest, compounded yearly. If the interest for two successive years is Rs. 5,700 and Rs. 7,410. calculate the rate of interest.
Mohit invests Rs. 8,000 for 3 years at a certain rate of interest, compounded annually. At the end of one year it amounts to Rs. 9,440. Calculate:
- the rate of interest per annum.
- the amount at the end of the second year.
- the interest accrued in the third year.
Geeta borrowed Rs. 15,000 for 18 months at a certain rate of interest compounded semi-annually. If at the end of six months it amounted to Rs. 15,600; calculate :
(i) the rate of interest per annum.
(ii) the total amount of money that Geeta must pay at the end of 18 months in order to clear the account.
Find the sum, invested at 10% compounded annually, on which the interest for the third year exceeds the interest of the first year by Rs. 252.
A man borrows Rs.10,000 at 10% compound interest compounded yearly. At the end of each year, he pays back 20% of the amount for that year. How much money is left unpaid just after the second year ?
A sum of Rs. 13,500 is invested at 16% per annum compound interest for 5years. Calculate :
(i) the interest for the first year.
(ii) the amount at the end of first year.
(iii) the interest for the second year, correct to the nearest rupee.
Saurabh invests Rs. 48,000 for 7 years at 10% per annum compound interest. Calculate:
(i) the interest for the first year.
(ii) the amount at the end of second year.
(iii) the interest for the third year.
Calculate the compound interest on Rs. 15,000 in 3 years; if the rates of interest for successive years be 6%, 8%, and 10% respectively.
A man invests Rs. 9600 at 10% per annum compound interest for 3 years. Calculate :
(i) the interest for the first year.
(ii) the amount at the end of the first year.
(iii) the interest for the second year.
(iv) the interest for the third year. the interest for the first year.
Rohit borrowed ₹ 40,000 for 2 years at 10% per annum C.I. and Manish borrowed the same sum for the same time at 10.5% per annum simple interest. Which of these two gets less interest and by how much?
Peter borrows ₹ 12,000 for 2 years at 10% p.a. compound interest. He repays ₹ 8,000 at the end of the first year. Find:
- the amount at the end of the first year, before making the repayment.
- the amount at the end of the first year, after making the repayment.
- the principal for the second year.
- the amount to be paid at the end of the second year, to clear the account.
Find the amount and the compound interest payable annually on the following :
Rs.25000 for 1`(1)/(2)` years at 10% per annum.
A man borrows Rs 62500 at 8% p.a., simple interest for 2 years. He immediately lends the money out at CI at the same rate and for same time. What is his gain at the end of 2 years?
The compound interest payable annually on a certain sum for 2 years is Rs 40.80 and the simple interest is Rs 40. Find the sum and the rate percent.
The difference between simple interest and compound interest compounded annually on a certain sum is Rs.448 for 2 years at 8 percent per annum. Find the sum.
The compound interest on ₹ 8000 at 10% p.a for 1 year, compounded half yearly is ____________
The present value of a machine is ₹ 16800. It depreciates at 25% p.a. Its worth after 2 years is ₹ 9450
A principal becomes ₹ 2028 in 2 years at 4% p.a compound interest. Find the principal
Find the rate of compound interest at which a principal becomes 1.69 times itself in 2 years
A sum is taken for two years at 16% p.a. If interest is compounded after every three months, the number of times for which interest is charged in 2 years is ______.
To calculate the growth of a bacteria if the rate of growth is known, the formula for calculation of amount in compound interest can be used.
Find the difference between Compound Interest and Simple Interest on Rs 45,000 at 12% per annum for 5 years.
