Advertisements
Advertisements
Question
Ramesh saves Rs 4,000 every year and invests it at 10% p.a. compound interest. Calculate his savings at the end of the third year.
Advertisements
Solution
P =Rs. 4,000; R = 10°/o p.a.; T = 3 years
Interest for the 1st year
`=("Rs" 4000 xx 10 xx 1)/100`
= Rs 400
Principal for the second year
= Amount at the end of one year + his new savings
= Rs. 4,000 + Rs. 400 +Rs. 4,000 =Rs. 8,400
Interest for the seoond year
`= ("Rs" 8400 xx 10 xx 1)/100`
= Rs 840
Compound interest for seoond year =Rs. 840
PrincipaI for the third year
= Amount at the end of tvvo years + his new savings
= Rs. 8400 + Rs. 840 + Rs. 4000 =Rs. 13,240
Interest for the third year
`= ("Rs" 13240 xx 10 xx 1)/100`
= Rs 1,324
Sum due at the end of third year = his savings at the end of third year
= Rs. 13,240 + Rs. 1,324 = Rs 14,564
RELATED QUESTIONS
Calculate the amount and the compound interest for the following:
Rs. 7500 at 12% p.a. in 3 years.
Calculate the amount and the compound interest for the following:
Rs.25, 000 at `8 2/5 %` p.a. in `1 1/3` years
A sum of Rs. 65000 is invested for 3 years at 8 % p.a. compound interest.
Find the compound interest earned in the last year.
Harijyot deposited Rs 27500 in a deposite scheme paying 12 % p.a. compound interest . If the duration of the deposite is 3 years , calculate :
The compound inrerest received by him.
Gayatri invested Rs.25,OOO for 3 years and 6 months in a bank which paid
1O % p.a- compound interest. Calculate the amount to the nearest.Ts-10, that she
received at the end of the period.
Meera borrowed Rs 12,500 on compound interest from Rajeev for 2 years when the rates of interest for successive years were 8% and 10%. If Meera returned Rs 7,500 at the end of the first year, find the amount she has to return at the end of the second year.
Neena's savings increases by Rs 1,000 every year. If she saves Rs 4,000 in the first year and invests it at 15% compound interest, find her total savings at the end of the third year.
Find the sum invested at `12 1/2` p.a. compound interest on which the interest for the third year exceeds that of the first year by Rs 531.25.
How much will Rs. 50,000 amount to in 3 years, compounded yearly, if the rates for the successive years are 6%, 8% and 10% respectively?
6000 workers were employed to construct a river bridge in four years. At the end of first year, 20% workers were retrenched; At the end of second year 5% of the workers at that time were retrenched. However, to complete the project in time, the number of workers was increased by 15% at the end of third year. How many workers were working during the fourth year?
